VisionPoint Advisory Group LLC Purchases Shares of 1,253 Elevance Health, Inc. (NYSE:ELV)

VisionPoint Advisory Group LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,253 shares of the company’s stock, valued at approximately $458,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Centricity Wealth Management LLC acquired a new stake in Elevance Health in the fourth quarter valued at $60,000. Legacy Capital Group California Inc. increased its position in shares of Elevance Health by 37.5% during the fourth quarter. Legacy Capital Group California Inc. now owns 756 shares of the company’s stock worth $279,000 after purchasing an additional 206 shares in the last quarter. ING Groep NV acquired a new stake in shares of Elevance Health during the fourth quarter worth about $10,927,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth about $775,000. Finally, Bryn Mawr Capital Management LLC increased its position in shares of Elevance Health by 4,275.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 98,088 shares of the company’s stock worth $36,185,000 after purchasing an additional 95,846 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Price Performance

Shares of ELV opened at $390.73 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock’s 50 day moving average is $385.18 and its two-hundred day moving average is $445.29. The firm has a market capitalization of $90.62 billion, a PE ratio of 15.26, a P/E/G 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 quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts anticipate that Elevance Health, Inc. will post 34 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. Elevance Health’s payout ratio is 25.46%.

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.