Perigon Wealth Management LLC Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Perigon Wealth Management LLC boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 83.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,095 shares of the company's stock after purchasing an additional 1,866 shares during the quarter. Perigon Wealth Management LLC's holdings in Elevance Health were worth $1,578,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quarry LP bought a new position in shares of Elevance Health during the second quarter valued at $73,000. B. Riley Wealth Advisors Inc. raised its holdings in Elevance Health by 39.5% in the second quarter. B. Riley Wealth Advisors Inc. now owns 3,982 shares of the company's stock worth $2,158,000 after buying an additional 1,127 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Elevance Health by 18.1% in the second quarter. EP Wealth Advisors LLC now owns 1,882 shares of the company's stock worth $1,020,000 after buying an additional 289 shares in the last quarter. Advisory Alpha LLC grew its holdings in shares of Elevance Health by 6.6% during the second quarter. Advisory Alpha LLC now owns 1,018 shares of the company's stock valued at $552,000 after buying an additional 63 shares during the last quarter. Finally, 3Chopt Investment Partners LLC bought a new stake in shares of Elevance Health during the second quarter valued at approximately $280,000. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ELV. Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. StockNews.com lowered Elevance Health from a "buy" rating to a "hold" rating in a research report on Monday. Argus restated a "hold" rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Finally, Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $517.03.

Elevance Health Trading Down 0.2 %

Shares of Elevance Health stock traded down $0.94 on Thursday, hitting $399.36. 1,484,159 shares of the company traded hands, compared to its average volume of 1,847,171. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $92.62 billion, a PE ratio of 14.56, a PEG ratio of 1.11 and a beta of 0.84. The stock's 50 day moving average price is $386.71 and its 200-day moving average price is $459.16. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Equities research analysts predict that Elevance Health, Inc. will post 32.95 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.71%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio is presently 23.77%.

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.