Elevance Health, Inc. (NYSE:ELV) Shares Acquired by JB Capital LLC

JB Capital LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 597.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,384 shares of the company’s stock after buying an additional 8,038 shares during the quarter. JB Capital LLC’s holdings in Elevance Health were worth $3,462,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ELV. Cypress Wealth Services LLC grew its holdings in shares of Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after buying an additional 23 shares in the last quarter. Atomi Financial Group Inc. boosted its position in Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after acquiring an additional 25 shares during the last quarter. Lifeworks Advisors LLC grew its stake in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after acquiring an additional 25 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after acquiring an additional 26 shares during the last quarter. Finally, Fullcircle Wealth LLC raised its holdings in Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after acquiring an additional 26 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $395.82 on Monday. The stock has a market capitalization of $91.80 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a 50-day moving average of $386.50 and a 200 day moving average of $457.14. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 34.09 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed 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 boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ELV shares. TD Cowen dropped their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

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.