Financial Perspectives Inc Takes $50,000 Position in Elevance Health, Inc. (NYSE:ELV)

Financial Perspectives Inc bought a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 135 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Raelipskie Partnership bought a new stake in shares of Elevance Health in the third quarter worth about $26,000. PSI Advisors LLC purchased a new position in shares of Elevance Health during the third quarter valued at approximately $27,000. Eastern Bank bought a new position in shares of Elevance Health during the third quarter valued at approximately $31,000. Crews Bank & Trust purchased a new stake in Elevance Health in the fourth quarter worth $34,000. Finally, Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 2.5 %

Shares of Elevance Health stock opened at $391.86 on Thursday. The company has a 50-day simple moving average of $384.93 and a two-hundred day simple moving average of $445.67. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $90.88 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

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 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 fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.75%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research analyst reports. Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Mizuho decreased their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $517.03.

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.