Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 47.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,872 shares of the company’s stock after acquiring an additional 19,907 shares during the period. Empowered Funds LLC’s holdings in Elevance Health were worth $22,825,000 at the end of the most recent quarter.

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

Elevance Health Trading Up 0.2 %

Shares of ELV stock opened at $391.23 on Friday. The company’s 50-day moving average price is $385.87 and its 200-day moving average price is $453.71. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market cap of $90.73 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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, equities 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 announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is presently 25.46%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ELV shares. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Argus reissued a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Company 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.