Rosenberg Matthew Hamilton acquired a new stake in Elevance Health, Inc. (NYSE:ELV – Get Rating) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 169 shares of the company’s stock, valued at approximately $87,000.
A number of other large investors have also bought and sold shares of the business. Sumitomo Life Insurance Co. acquired a new position in shares of Elevance Health in the fourth quarter valued at approximately $1,760,000. Burke & Herbert Bank & Trust Co. bought a new stake in Elevance Health in the 4th quarter valued at $533,000. Mckinley Capital Management LLC Delaware acquired a new position in Elevance Health in the 4th quarter worth $9,649,000. Zhang Financial LLC bought a new position in Elevance Health during the 4th quarter worth about $367,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $54,000. 87.66% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on ELV. JPMorgan Chase & Co. upped their price objective on Elevance Health from $555.00 to $572.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Truist Financial decreased their price target on shares of Elevance Health from $610.00 to $580.00 and set a “buy” rating for the company in a research note on Friday. Loop Capital boosted their price objective on shares of Elevance Health from $550.00 to $565.00 in a research report on Monday, January 30th. SVB Leerink reaffirmed an “outperform” rating and issued a $580.00 target price on shares of Elevance Health in a research report on Thursday, January 26th. Finally, Royal Bank of Canada lifted their price target on shares of Elevance Health from $505.00 to $523.00 and gave the company a “sector perform” rating in a research note on Thursday, January 26th. Three 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 stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $581.68.
Elevance Health Price Performance
Elevance Health (NYSE:ELV – Get Rating) last posted its earnings results on Wednesday, January 25th. The company reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.20 by $0.03. Elevance Health had a return on equity of 19.56% and a net margin of 3.85%. The business had revenue of $39.67 billion for the quarter, compared to analyst estimates of $39.62 billion. During the same period in the previous year, the firm earned $5.14 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, analysts predict that Elevance Health, Inc. will post 32.72 EPS for the current year.
Elevance Health Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were given a $1.48 dividend. The ex-dividend date was Thursday, March 9th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.28. This represents a $5.92 annualized dividend and a dividend yield of 1.30%. Elevance Health’s dividend payout ratio is presently 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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