VELA Investment Management LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 101.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,074 shares of the company's stock after buying an additional 1,045 shares during the quarter. VELA Investment Management LLC's holdings in Elevance Health were worth $765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new position in shares of Elevance Health in the 3rd quarter valued at approximately $26,000. Crews Bank & Trust purchased a new position in shares of Elevance Health in the fourth quarter worth $34,000. Dunhill Financial LLC lifted its stake in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after buying an additional 26 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health during the third quarter valued at $44,000. Finally, Financial Perspectives Inc acquired a new position in shares of Elevance Health in the 4th quarter valued at $50,000. 89.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on ELV shares. Mizuho cut 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Finally, StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Saturday. Three 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $517.03.
Read Our Latest Stock Report on ELV
Elevance Health Price Performance
Shares of NYSE ELV traded up $1.15 during trading on Monday, hitting $398.03. The company had a trading volume of 486,020 shares, compared to its average volume of 1,603,807. The firm has a market capitalization of $90.49 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The stock has a fifty day simple moving average of $387.78 and a two-hundred day simple moving average of $438.36. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.
Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share 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 issued 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 yield of 1.72%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.
Elevance Health Company Profile
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Free Report)
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.
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