Colonial River Investments LLC Purchases 946 Shares of Elevance Health, Inc. (NYSE:ELV)

Colonial River Investments LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 168.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,509 shares of the company’s stock after buying an additional 946 shares during the period. Colonial River Investments LLC’s holdings in Elevance Health were worth $557,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Pathway Financial Advisers LLC boosted its stake in Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares during the period. Stifel Financial Corp boosted its stake in Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after purchasing an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the period. Wellington Management Group LLP boosted its stake in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the period. Finally, World Investment Advisors LLC acquired a new position in Elevance Health in the 3rd quarter worth $129,221,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of research analyst reports. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Argus restated a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Down 1.4 %

Elevance Health stock opened at $385.04 on Monday. The stock has a market cap of $87.54 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company’s 50-day moving average price is $385.25 and its two-hundred day moving average price is $443.22.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate 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, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders 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 a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

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.