Compound Global Advisors LLC Invests $1.14 Million in Elevance Health, Inc. (NYSE:ELV)

Compound Global Advisors LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,084 shares of the company’s stock, valued at approximately $1,138,000. Elevance Health comprises 4.6% of Compound Global Advisors LLC’s portfolio, making the stock its 6th biggest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mutual Advisors LLC lifted its holdings in shares of Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after acquiring an additional 52 shares during the last quarter. Czech National Bank raised its holdings in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after buying an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT raised its holdings in Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after buying an additional 3,786 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after buying an additional 50,603 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $396.34 on Tuesday. The firm has a 50 day moving average of $385.87 and a 200-day moving average of $452.95. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market cap of $91.92 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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%. On average, equities analysts forecast that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 annualized dividend and a yield of 1.73%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Argus restated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Mizuho lowered their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Morgan Stanley lowered their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.