Machina Capital S.A.S. Grows Holdings in Elevance Health, Inc. (NYSE:ELV)

Machina Capital S.A.S. increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 38.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,666 shares of the company’s stock after buying an additional 1,027 shares during the period. Machina Capital S.A.S.’s holdings in Elevance Health were worth $1,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership bought a new stake in shares of Elevance Health in the 3rd quarter worth about $26,000. Crews Bank & Trust bought a new stake in shares of Elevance Health in the 4th quarter worth about $34,000. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Elevance Health in the 3rd quarter worth about $44,000. Finally, Financial Perspectives Inc bought a new stake in shares of Elevance Health in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.7 %

Elevance Health stock opened at $409.59 on Friday. The firm has a 50-day moving average price of $390.64 and a two-hundred day moving average price of $434.88. The firm has a market capitalization of $93.12 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. 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 (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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 expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business 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 $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ELV shares. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Three 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 stock. According to MarketBeat, the stock 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.