Naples Global Advisors LLC Acquires 480 Shares of Elevance Health, Inc. (NYSE:ELV)

Naples Global Advisors LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 38.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,740 shares of the company’s stock after buying an additional 480 shares during the quarter. Naples Global Advisors LLC’s holdings in Elevance Health were worth $642,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter worth about $26,000. PSI Advisors LLC acquired a new position in shares of Elevance Health during the 3rd quarter worth approximately $27,000. Eastern Bank bought a new stake in shares of Elevance Health during the 3rd quarter worth approximately $31,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $34,000. Finally, Dunhill Financial LLC grew its stake in shares of 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 buying an additional 26 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ELV shares. Royal Bank of Canada dropped their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Mizuho reduced their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Truist Financial dropped their price objective 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. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

NYSE:ELV opened at $391.68 on Friday. 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 firm’s 50-day simple moving average is $384.96 and its 200 day simple moving average is $450.70. The firm has a market cap of $90.84 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced 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 net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend 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 yield of 1.75%. Elevance Health’s payout ratio is currently 25.46%.

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.