Crestwood Advisors Group LLC Purchases 142 Shares of Elevance Health, Inc. (NYSE:ELV)

Crestwood Advisors Group LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 669 shares of the company’s stock after purchasing an additional 142 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Elevance Health were worth $247,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ELV. Arkadios Wealth Advisors boosted its stake in shares of Elevance Health by 14.4% in the 3rd quarter. Arkadios Wealth Advisors now owns 993 shares of the company’s stock valued at $516,000 after purchasing an additional 125 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Elevance Health by 42.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,427 shares of the company’s stock worth $10,622,000 after acquiring an additional 6,098 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in Elevance Health by 3.8% during the third quarter. J.W. Cole Advisors Inc. now owns 1,325 shares of the company’s stock worth $689,000 after acquiring an additional 49 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in Elevance Health by 3.9% during the third quarter. Integrated Advisors Network LLC now owns 5,942 shares of the company’s stock worth $3,090,000 after acquiring an additional 222 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in Elevance Health by 6.2% during the third quarter. Diversify Advisory Services LLC now owns 701 shares of the company’s stock worth $365,000 after acquiring an additional 41 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV stock opened at $386.22 on Thursday. The firm has a 50-day moving average of $386.62 and a 200-day moving average of $440.93. The company has a market cap of $87.81 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.