Exchange Traded Concepts LLC Has $864,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Exchange Traded Concepts LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,343 shares of the company’s stock after acquiring an additional 373 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Elevance Health were worth $864,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the third quarter worth about $27,000. Eastern Bank bought a new position in shares of Elevance Health during the 3rd quarter valued at about $31,000. Dunhill Financial LLC lifted its holdings in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in shares of Elevance Health in the 3rd quarter valued at approximately $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.4 %

Shares of ELV stock opened at $405.67 on Wednesday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market cap of $94.08 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.11 and a beta of 0.84. The firm’s 50-day moving average is $386.42 and its 200-day moving average is $460.49. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Sell-side analysts predict that Elevance Health, Inc. will post 32.95 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is currently 23.77%.

Analyst Upgrades and Downgrades

ELV has been the topic of several research analyst reports. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Raymond James set a $485.00 price objective on shares of Elevance Health in a report on Friday, October 18th. Morgan Stanley reduced their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Monday. Finally, TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $524.47.

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.