Valley Wealth Managers Inc. Boosts Stake in Elevance Health, Inc. (NYSE:ELV)

Valley Wealth Managers Inc. boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,349 shares of the company's stock after acquiring an additional 2,846 shares during the quarter. Valley Wealth Managers Inc.'s holdings in Elevance Health were worth $14,885,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mutual Advisors LLC raised its position in Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after acquiring an additional 52 shares in the last quarter. Czech National Bank raised its position in Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after acquiring an additional 3,049 shares in the last quarter. Iridian Asset Management LLC CT raised its position in Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company's stock valued at $20,360,000 after acquiring an additional 3,786 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after purchasing an additional 532,016 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock valued at $27,858,000 after purchasing an additional 50,603 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the topic of several research analyst reports. StockNews.com lowered Elevance Health from a "buy" rating to a "hold" rating in a report on Friday. Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Truist Financial dropped their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Finally, Mizuho dropped 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. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $517.03.

Elevance Health Trading Down 1.4 %

Elevance Health stock traded down $5.46 during trading on Friday, reaching $385.04. 1,736,819 shares of the company were exchanged, compared to its average volume of 1,621,539. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a market capitalization of $89.30 billion, a P/E ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock's 50 day simple moving average is $385.25 and its two-hundred day simple moving average is $444.32.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts' consensus estimates 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, equities research analysts expect that Elevance Health, Inc. will post 34 earnings per share 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. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This is an increase from Elevance Health's previous quarterly dividend of $1.63. 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 1.78%. Elevance Health's dividend payout ratio (DPR) is presently 25.46%.

About Elevance Health

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.