Portfolio Design Labs LLC Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Portfolio Design Labs LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 37.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,403 shares of the company's stock after purchasing an additional 2,296 shares during the quarter. Portfolio Design Labs LLC's holdings in Elevance Health were worth $3,100,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership acquired a new position in shares of Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new position in Elevance Health in the third quarter valued at about $27,000. Eastern Bank bought a new position in shares of Elevance Health in the 3rd quarter valued at $31,000. Crews Bank & Trust bought a new stake in Elevance Health during the 4th quarter worth approximately $34,000. Finally, Dunhill Financial LLC lifted its stake in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Trading Down 0.5 %

Elevance Health stock traded down $2.02 during trading on Friday, hitting $389.58. The company's stock had a trading volume of 1,202,248 shares, compared to its average volume of 1,761,671. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock's fifty day moving average is $385.08 and its 200 day moving average is $449.32. The stock has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV - Get Free Report) 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 predict that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's payout ratio is presently 25.46%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research reports. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. Argus reiterated a "hold" rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Finally, Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus 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.