Deseret Mutual Benefit Administrators Acquires 41 Shares of Elevance Health, Inc. (NYSE:ELV)

Deseret Mutual Benefit Administrators grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 489 shares of the company’s stock after acquiring an additional 41 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Elevance Health were worth $180,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Eastern Bank purchased a new stake in shares of Elevance Health in the third quarter worth $31,000. International Assets Investment Management LLC increased its stake in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares during the last quarter. Global Assets Advisory LLC raised its holdings in shares of Elevance Health by 34.1% in the 3rd quarter. Global Assets Advisory LLC now owns 523 shares of the company’s stock valued at $267,000 after acquiring an additional 133 shares in the last quarter. PSI Advisors LLC bought a new stake in shares of Elevance Health during the 3rd quarter valued at about $27,000. Finally, DT Investment Partners LLC grew its holdings in shares of Elevance Health by 4.9% during the third quarter. DT Investment Partners LLC now owns 644 shares of the company’s stock worth $335,000 after purchasing an additional 30 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $385.04 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The business has a 50 day moving average price of $385.25 and a 200-day moving average price of $444.32. The firm has a market cap of $89.30 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Elevance Health, Inc. will post 34 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 25.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ELV. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Truist Financial lowered their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Finally, Barclays upped their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus 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.