Scotia Capital Inc. Has $8.87 Million Holdings in Elevance Health, Inc. $ELV

Scotia Capital Inc. boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 5.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,812 shares of the company’s stock after purchasing an additional 1,202 shares during the period. Scotia Capital Inc.’s holdings in Elevance Health were worth $8,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Hemington Wealth Management increased its stake in shares of Elevance Health by 13.3% in the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after buying an additional 27 shares during the period. Aspen Investment Management Inc boosted its holdings in Elevance Health by 2.6% in the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after acquiring an additional 27 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its holdings in Elevance Health by 5.3% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock valued at $261,000 after acquiring an additional 30 shares during the last quarter. Regatta Capital Group LLC increased its position in Elevance Health by 3.0% during the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after purchasing an additional 30 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Elevance Health by 1.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after purchasing an additional 32 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. TD Cowen upped their target price on Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Elevance Health in a research note on Monday. Finally, Guggenheim increased their target price on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $398.44.

Elevance Health Price Performance

ELV opened at $332.15 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s fifty day moving average price is $333.18 and its two-hundred day moving average price is $335.91. The company has a market capitalization of $73.82 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the previous year, the business earned $8.37 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio is currently 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.