Fiduciary Alliance LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 537 shares of the company’s stock, valued at approximately $275,000.
Several other institutional investors also recently modified their holdings of ELV. Hexagon Capital Partners LLC bought a new stake in Elevance Health during the 4th quarter valued at about $26,000. Focused Wealth Management Inc purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $29,000. Tompkins Financial Corp purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $30,000. HBC Financial Services PLLC purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $29,000. Finally, Bank of New Hampshire purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $36,000. 87.66% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on ELV shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Elevance Health from $581.00 to $571.00 and set a “buy” rating on the stock in a report on Wednesday, March 8th. SVB Leerink reissued an “outperform” rating and issued a $580.00 price objective on shares of Elevance Health in a report on Thursday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of Elevance Health from $555.00 to $572.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Loop Capital raised their price objective on shares of Elevance Health from $550.00 to $565.00 in a report on Monday, January 30th. Finally, Royal Bank of Canada raised their price objective on shares of Elevance Health from $505.00 to $523.00 and gave the stock a “sector perform” rating in a report on Thursday, January 26th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $581.68.
Elevance Health Stock Up 2.3 %
Elevance Health (NYSE:ELV – Get Rating) last issued its earnings results on Wednesday, January 25th. The company reported $5.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.20 by $0.03. The firm had revenue of $39.67 billion during the quarter, compared to analyst estimates of $39.62 billion. Elevance Health had a net margin of 3.85% and a return on equity of 19.56%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.14 earnings per share. On average, analysts predict that Elevance Health, Inc. will post 32.72 earnings per share for the current year.
Elevance Health Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were paid a dividend of $1.48 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.28. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Thursday, March 9th. Elevance Health’s payout ratio is currently 23.88%.
About Elevance Health
Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.
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