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

Mutual Advisors LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,163 shares of the company’s stock after acquiring an additional 52 shares during the quarter. Mutual Advisors LLC’s holdings in Elevance Health were worth $833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter worth $26,000. PSI Advisors LLC purchased a new stake in Elevance Health during the third quarter worth $27,000. Eastern Bank purchased a new stake in Elevance Health during the third quarter worth $31,000. Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health during the third quarter worth $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ELV. Wells Fargo & Company lowered their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. TD Cowen lowered their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Stephens downgraded shares of 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. Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $525.60.

Elevance Health Stock Performance

NYSE:ELV opened at $401.43 on Monday. The company’s 50-day moving average price is $386.21 and its 200-day moving average price is $461.87. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market cap 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, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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 3.68% and a return on equity of 19.56%. On average, sell-side analysts forecast that Elevance Health, Inc. will post 32.95 earnings per share 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. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.