Stanley Laman Group Ltd. Increases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Stanley Laman Group Ltd. boosted its position in Elevance Health, Inc. (NYSE:ELV) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,208 shares of the company’s stock after buying an additional 648 shares during the period. Stanley Laman Group Ltd.’s holdings in Elevance Health were worth $3,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Consolidated Planning Corp raised its stake in shares of Elevance Health by 9.1% during the 4th quarter. Consolidated Planning Corp now owns 931 shares of the company’s stock worth $343,000 after buying an additional 78 shares during the last quarter. Naples Global Advisors LLC grew its holdings in shares of Elevance Health by 38.1% during the 4th quarter. Naples Global Advisors LLC now owns 1,740 shares of the company’s stock worth $642,000 after purchasing an additional 480 shares during the period. Van ECK Associates Corp grew its holdings in shares of Elevance Health by 16.4% during the 4th quarter. Van ECK Associates Corp now owns 14,884 shares of the company’s stock worth $5,491,000 after purchasing an additional 2,102 shares during the period. Retirement Guys Formula LLC grew its holdings in shares of Elevance Health by 3.1% during the 4th quarter. Retirement Guys Formula LLC now owns 2,794 shares of the company’s stock worth $1,031,000 after purchasing an additional 84 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Elevance Health by 11.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 57,140 shares of the company’s stock worth $20,904,000 after acquiring an additional 5,726 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 1.5 %

Shares of NYSE ELV opened at $385.52 on Thursday. 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’s fifty day moving average is $385.25 and its 200 day moving average is $451.16. The stock has a market capitalization of $89.41 billion, a P/E ratio of 15.05, a PEG ratio of 1.17 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 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts forecast that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.77%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 25.46%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ELV shares. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. UBS Group dropped their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. TD Cowen dropped their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada decreased their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three investment 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $517.03.

About Elevance Health

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.