Principal Securities Inc. Purchases 2,475 Shares of Elevance Health, Inc. (NYSE:ELV)

Principal Securities Inc. raised its position in Elevance Health, Inc. (NYSE:ELV) by 15.6% during the fourth quarter, Holdings Channel reports. The firm owned 18,374 shares of the company’s stock after purchasing an additional 2,475 shares during the period. Principal Securities Inc.’s holdings in Elevance Health were worth $6,778,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Good Life Advisors LLC increased its position in shares of Elevance Health by 11.2% during the 3rd quarter. Good Life Advisors LLC now owns 625 shares of the company’s stock valued at $325,000 after purchasing an additional 63 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Elevance Health by 8.8% in the 3rd quarter. Global Retirement Partners LLC now owns 4,189 shares of the company’s stock worth $2,178,000 after buying an additional 338 shares during the last quarter. Stonegate Investment Group LLC purchased a new position in shares of Elevance Health during the 3rd quarter valued at about $237,000. Aaron Wealth Advisors LLC lifted its holdings in shares of Elevance Health by 7.3% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 826 shares of the company’s stock worth $430,000 after acquiring an additional 56 shares during the last quarter. Finally, Stratos Investment Management LLC grew its position in Elevance Health by 2.8% during the 3rd quarter. Stratos Investment Management LLC now owns 1,379 shares of the company’s stock worth $717,000 after acquiring an additional 37 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

NYSE:ELV opened at $389.58 on Friday. The firm has a market capitalization of $90.35 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business’s fifty day moving average price is $385.08 and its 200 day moving average price is $449.32. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 25.46%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ELV shares. Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley decreased their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Argus restated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health currently 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.