Bank of Jackson Hole Trust Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Bank of Jackson Hole Trust acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 241 shares of the company’s stock, valued at approximately $89,000.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. Sequoia Financial Advisors LLC increased its stake in Elevance Health by 5.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,665 shares of the company’s stock worth $3,466,000 after acquiring an additional 337 shares during the period. Eastern Bank bought a new position in Elevance Health during the 3rd quarter worth $31,000. Waldron Private Wealth LLC increased its stake in Elevance Health by 7.2% during the 3rd quarter. Waldron Private Wealth LLC now owns 1,143 shares of the company’s stock worth $594,000 after acquiring an additional 77 shares during the period. GAM Holding AG boosted its holdings in shares of Elevance Health by 0.8% in the 3rd quarter. GAM Holding AG now owns 15,741 shares of the company’s stock valued at $8,185,000 after purchasing an additional 121 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Elevance Health in the 3rd quarter valued at $2,008,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ELV. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Up 2.5 %

Shares of ELV opened at $391.86 on Thursday. The company has a market capitalization of $90.88 billion, a PE ratio of 15.30, a PEG ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock’s 50-day moving average price is $384.93 and its two-hundred day moving average price is $445.67. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts anticipate that Elevance Health, Inc. will post 34 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. 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 annualized dividend and a yield of 1.75%. Elevance Health’s payout ratio is presently 25.46%.

Elevance Health Company 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.