Y Intercept Hong Kong Ltd Invests $4.85 Million in Elevance Health, Inc. (NYSE:ELV)

Y Intercept Hong Kong Ltd acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,141 shares of the company's stock, valued at approximately $4,848,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Eastern Bank acquired a new position in Elevance Health in the third quarter valued at approximately $31,000. Dakota Wealth Management lifted its stake in shares of Elevance Health by 12.9% in the 3rd quarter. Dakota Wealth Management now owns 1,068 shares of the company's stock valued at $555,000 after purchasing an additional 122 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in Elevance Health by 56.5% during the third quarter. Mediolanum International Funds Ltd now owns 8,328 shares of the company's stock worth $4,356,000 after purchasing an additional 3,007 shares in the last quarter. Joel Isaacson & Co. LLC lifted its stake in Elevance Health by 9.0% during the third quarter. Joel Isaacson & Co. LLC now owns 1,243 shares of the company's stock worth $646,000 after purchasing an additional 103 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Elevance Health by 6.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,882 shares of the company's stock worth $18,275,000 after purchasing an additional 2,176 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

NYSE ELV opened at $385.04 on Monday. 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 business has a 50 day moving average price of $385.25 and a 200 day moving average price of $443.22. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a market capitalization of $87.54 billion, a P/E ratio of 15.03, a PEG ratio of 1.18 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 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%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. 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 (DPR) is presently 26.71%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ELV shares. Argus reissued a "hold" rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. StockNews.com lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday. Finally, Truist Financial reduced their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $517.03.

Elevance Health 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.

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