Hussman Strategic Advisors Inc. Invests $775,000 in Elevance Health, Inc. (NYSE:ELV)

Hussman Strategic Advisors Inc. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,100 shares of the company’s stock, valued at approximately $775,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lifeworks Advisors LLC increased its holdings in shares of Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC boosted its position in shares of Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after acquiring an additional 26 shares in the last quarter. Fullcircle Wealth LLC boosted its position in shares of Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after acquiring an additional 26 shares in the last quarter. Dunhill Financial LLC boosted its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its position in shares of Elevance Health by 5.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock valued at $263,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $390.73 on Friday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm’s 50 day moving average is $385.18 and its 200-day moving average is $445.29. The firm has a market capitalization of $90.62 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.15 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts forecast that Elevance Health, Inc. will post 34 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th 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 1.75%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 25.46%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Argus restated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Profile

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.