Elevance Health, Inc. (NYSE:ELV) Shares Bought by Archford Capital Strategies LLC

Archford Capital Strategies LLC raised its position in Elevance Health, Inc. (NYSE:ELV) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,959 shares of the company’s stock after acquiring an additional 487 shares during the period. Archford Capital Strategies LLC’s holdings in Elevance Health were worth $1,460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ELV. Mackenzie Financial Corp lifted its stake in shares of Elevance Health by 1.1% during the second quarter. Mackenzie Financial Corp now owns 73,964 shares of the company’s stock worth $40,078,000 after buying an additional 773 shares during the period. Kathmere Capital Management LLC purchased a new position in Elevance Health in the second quarter valued at $210,000. Ascent Group LLC increased its stake in shares of Elevance Health by 30.2% during the second quarter. Ascent Group LLC now owns 4,903 shares of the company’s stock worth $2,657,000 after purchasing an additional 1,138 shares in the last quarter. Creative Planning increased its stake in shares of Elevance Health by 10.3% during the second quarter. Creative Planning now owns 31,156 shares of the company’s stock worth $16,882,000 after purchasing an additional 2,901 shares in the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of Elevance Health during the second quarter worth about $19,085,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $401.43 on Friday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm’s 50 day moving average price is $386.21 and its 200 day moving average price is $462.34. The company has a market cap of $93.10 billion, a P/E ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates 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, research 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. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date is Monday, March 10th. This is an increase 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 1.70%. Elevance Health’s dividend payout ratio is currently 26.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. 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 research report on Monday, November 4th. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a report on Wednesday. Royal Bank of Canada decreased their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Finally, Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $525.60.

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.