Asio Capital LLC Has $4.03 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Asio Capital LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 12.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,910 shares of the company’s stock after purchasing an additional 1,221 shares during the period. Asio Capital LLC’s holdings in Elevance Health were worth $4,025,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new position in shares of Elevance Health during the third quarter valued at $26,000. PSI Advisors LLC purchased a new position in Elevance Health during the 3rd quarter valued at about $27,000. Eastern Bank acquired a new position in shares of Elevance Health in the 3rd quarter valued at about $31,000. Dunhill Financial LLC lifted its position 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 purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health during the third quarter worth approximately $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELV has been the topic of several research reports. TD Cowen dropped their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a research report on Wednesday. Finally, Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three equities 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $525.60.

Elevance Health Stock Performance

NYSE:ELV opened at $401.43 on Friday. The firm has a market capitalization of $93.10 billion, a PE ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. 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 firm’s fifty day simple moving average is $386.21 and its 200 day simple moving average is $462.34.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 32.95 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. 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 dividend yield of 1.70%. Elevance Health’s payout ratio is 26.71%.

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.