Howard Capital Management Inc. Buys 72 Shares of Elevance Health, Inc. (NYSE:ELV)

Howard Capital Management Inc. raised its stake in Elevance Health, Inc. (NYSE:ELV) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,524 shares of the company’s stock after purchasing an additional 72 shares during the quarter. Howard Capital Management Inc.’s holdings in Elevance Health were worth $562,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mutual Advisors LLC lifted its position in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank lifted its position in Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after purchasing an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT lifted its position in Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after purchasing an additional 3,786 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after purchasing an additional 50,603 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of Elevance Health by 13.7% during the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after buying an additional 2,725 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.0 %

Elevance Health stock opened at $384.91 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $385.48 and its two-hundred day simple moving average is $442.23. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a market capitalization of $87.51 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released 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%. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal 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 $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.78%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ELV shares. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Stephens cut 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 research note on Wednesday, January 22nd. Finally, StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Four equities research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

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.