Evergreen Wealth Management LLC Has $3.59 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Evergreen Wealth Management LLC boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 82.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,741 shares of the company's stock after purchasing an additional 4,388 shares during the period. Elevance Health makes up about 2.1% of Evergreen Wealth Management LLC's portfolio, making the stock its 17th largest holding. Evergreen Wealth Management LLC's holdings in Elevance Health were worth $3,593,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Lifeworks Advisors LLC lifted its position in Elevance Health by 2.5% in the third 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 period. Catalyst Financial Partners LLC increased its holdings in shares of Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock valued at $477,000 after buying an additional 26 shares in the last quarter. Fullcircle Wealth LLC increased its holdings in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock valued at $906,000 after buying an additional 26 shares in the last quarter. Dunhill Financial LLC increased its holdings in shares of 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 buying an additional 26 shares in the last quarter. Finally, TCI Wealth Advisors Inc. increased its holdings in shares of Elevance Health by 5.6% in the third quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company's stock valued at $263,000 after buying an additional 27 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV stock traded down $0.98 during mid-day trading on Thursday, reaching $390.73. 1,324,897 shares of the stock traded hands, compared to its average volume of 1,618,045. 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 52 week low of $362.21 and a 52 week high of $567.26. The business has a 50-day moving average of $384.93 and a two-hundred day moving average of $445.67. The firm has a market capitalization of $90.62 billion, a PE ratio of 15.26, a P/E/G ratio of 1.15 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (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, equities analysts predict that Elevance Health, Inc. will post 34 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ELV shares. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Mizuho cut their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average target price of $517.03.

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.