Lecap Asset Management Ltd. Has $1.83 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Lecap Asset Management Ltd. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 28.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,953 shares of the company’s stock after buying an additional 1,091 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Elevance Health were worth $1,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raelipskie Partnership bought a new position in shares of Elevance Health in the third quarter valued at about $26,000. PSI Advisors LLC acquired a new position in Elevance Health in the 3rd quarter valued at about $27,000. Eastern Bank acquired a new position in Elevance Health in the 3rd quarter valued at about $31,000. Crews Bank & Trust bought a new position in Elevance Health in the 4th quarter valued at about $34,000. Finally, Dunhill Financial LLC lifted its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 3.0 %

Shares of ELV stock opened at $389.94 on Friday. The stock’s 50-day moving average price is $386.45 and its 200-day moving average price is $454.94. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market capitalization of $90.43 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

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 net margin of 3.38% and a return on equity of 18.28%. Equities research analysts predict that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

Analyst Ratings Changes

Several analysts have weighed in on ELV shares. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Mizuho dropped their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Three research 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 stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health 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.