Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Mutual Advisors LLC

Mutual Advisors LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,163 shares of the company’s stock after purchasing an additional 52 shares during the period. Mutual Advisors LLC’s holdings in Elevance Health were worth $833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter valued at about $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter valued at about $27,000. Eastern Bank acquired a new stake in shares of Elevance Health during the third quarter valued at about $31,000. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health during the third quarter valued at about $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ELV shares. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $525.60.

Elevance Health Stock Up 0.0 %

Shares of Elevance Health stock opened at $401.43 on Monday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a 50 day moving average of $386.21 and a 200 day moving average of $461.87. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $93.10 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last issued its quarterly 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 3.68% and a return on equity of 19.56%. As a group, research analysts forecast that Elevance Health, Inc. will post 32.95 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. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. 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 payout ratio is currently 23.77%.

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.