AlphaCentric Advisors LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

AlphaCentric Advisors LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,702 shares of the company's stock, valued at approximately $997,000. Elevance Health comprises 1.0% of AlphaCentric Advisors LLC's holdings, making the stock its 29th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Good Life Advisors LLC raised its holdings in Elevance Health by 11.2% during the third quarter. Good Life Advisors LLC now owns 625 shares of the company's stock worth $325,000 after acquiring an additional 63 shares in the last quarter. Stonegate Investment Group LLC acquired a new position in shares of Elevance Health during the 3rd quarter worth approximately $237,000. Moss Adams Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 3rd quarter worth approximately $203,000. Blue Trust Inc. boosted its holdings in shares of Elevance Health by 36.9% in the 3rd quarter. Blue Trust Inc. now owns 2,836 shares of the company's stock valued at $1,537,000 after buying an additional 765 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its stake in shares of Elevance Health by 1.3% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 4,584 shares of the company's stock valued at $2,384,000 after buying an additional 60 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ELV. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. Argus reaffirmed a "hold" rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Morgan Stanley cut their price objective on Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Stock Performance

Shares of ELV stock traded down $0.98 on Thursday, hitting $390.73. The company's stock had a trading volume of 1,324,897 shares, compared to its average volume of 1,618,045. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock's 50 day moving average is $384.93 and its 200-day moving average is $445.67. The company has a market capitalization of $90.62 billion, a PE ratio of 15.26, a PEG ratio of 1.15 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last issued 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 return on equity of 18.28% and a net margin of 3.38%. Equities research analysts expect that Elevance Health, Inc. will post 34 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Monday, March 10th. 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.