Sage Investment Counsel LLC Invests $321,000 in Elevance Health, Inc. (NYSE:ELV)

Sage Investment Counsel LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 870 shares of the company’s stock, valued at approximately $321,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. SVB Wealth LLC purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $11,109,000. Waterway Wealth Management LLC raised its holdings in shares of Elevance Health by 277.7% in the fourth quarter. Waterway Wealth Management LLC now owns 2,032 shares of the company’s stock worth $750,000 after buying an additional 1,494 shares during the period. VELA Investment Management LLC raised its holdings in shares of Elevance Health by 101.6% in the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock worth $765,000 after buying an additional 1,045 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of Elevance Health by 42.5% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 570 shares of the company’s stock worth $210,000 after buying an additional 170 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in shares of Elevance Health by 49,164.4% in the fourth quarter. Proficio Capital Partners LLC now owns 231,050 shares of the company’s stock worth $85,234,000 after buying an additional 230,581 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Up 1.1 %

ELV opened at $397.09 on Friday. The firm has a market cap of $90.28 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.18 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, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a fifty day moving average price of $387.78 and a 200-day moving average price of $439.71.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.72%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

Analysts Set New Price Targets

Several research analysts have commented on ELV shares. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Mizuho reduced their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.