Kirtland Hills Capital Management LLC Has $647,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Kirtland Hills Capital Management LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 6.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,754 shares of the company’s stock after selling 116 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Elevance Health were worth $647,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Impax Asset Management Group plc increased its position in Elevance Health by 1.1% during the fourth quarter. Impax Asset Management Group plc now owns 25,596 shares of the company’s stock worth $9,442,000 after buying an additional 291 shares during the last quarter. Crestwood Advisors Group LLC increased its position in Elevance Health by 26.9% during the fourth quarter. Crestwood Advisors Group LLC now owns 669 shares of the company’s stock worth $247,000 after buying an additional 142 shares during the last quarter. Colonial River Investments LLC grew its position in shares of Elevance Health by 168.0% in the fourth quarter. Colonial River Investments LLC now owns 1,509 shares of the company’s stock valued at $557,000 after purchasing an additional 946 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $4,848,000. Finally, C WorldWide Group Holding A S grew its position in shares of Elevance Health by 30.3% in the fourth quarter. C WorldWide Group Holding A S now owns 91,383 shares of the company’s stock valued at $33,711,000 after purchasing an additional 21,239 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ELV shares. Truist Financial lowered their price target 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 raised their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Argus reaffirmed a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Up 4.6 %

Shares of ELV opened at $402.95 on Wednesday. The stock has a market cap of $91.61 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a 50-day moving average price of $386.22 and a two-hundred day moving average price of $441.32.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued 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 is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

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.