Fisher Funds Management LTD Acquires Shares of 23,879 Elevance Health, Inc. (NYSE:ELV)

Fisher Funds Management LTD bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 23,879 shares of the company’s stock, valued at approximately $8,820,000.

A number of other hedge funds have also modified their holdings of ELV. Lifeworks Advisors LLC increased its position in Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the last quarter. Catalyst Financial Partners LLC increased its holdings in Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after buying an additional 26 shares during the last quarter. Fullcircle Wealth LLC raised its position in Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after acquiring an additional 26 shares in the last quarter. Dunhill Financial LLC lifted its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. Finally, TCI Wealth Advisors Inc. grew its position in Elevance Health by 5.6% in the third quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock worth $263,000 after acquiring an additional 27 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ELV. Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Finally, Argus reaffirmed a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Down 1.4 %

Shares of ELV stock opened at $385.04 on Friday. 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, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm’s fifty day simple moving average is $385.25 and its 200 day simple moving average is $443.77. The firm has a market capitalization of $89.30 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed 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 of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

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.