1,834 Shares in Elevance Health, Inc. $ELV Bought by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,834 shares of the company’s stock, valued at approximately $593,000.

A number of other large investors have also added to or reduced their stakes in ELV. Aspen Investment Management Inc boosted its holdings in shares of Elevance Health by 2.6% in the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after buying an additional 27 shares in the last quarter. Nilsine Partners LLC boosted its stake in Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock valued at $620,000 after acquiring an additional 29 shares in the last quarter. Regatta Capital Group LLC grew its holdings in Elevance Health by 3.0% in the second quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after purchasing an additional 30 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Elevance Health by 1.5% during the first quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after purchasing an additional 32 shares in the last quarter. Finally, Accurate Wealth Management LLC lifted its holdings in shares of Elevance Health by 4.9% during the 2nd quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock valued at $275,000 after purchasing an additional 33 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen boosted their target price on Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Elevance Health in a research note on Monday. Truist Financial set a $400.00 price objective on shares of Elevance Health in a report on Tuesday, October 14th. Bank of America lifted their target price on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Twelve analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $400.44.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $345.71 on Thursday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market cap of $76.83 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.63 and a beta of 0.52. The company’s 50 day moving average is $335.08 and its 200 day moving average is $331.47.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $8.37 EPS. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

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.