Elevance Health, Inc. (NYSE:ELV) Stock Holdings Lifted by Alliance Wealth Advisors LLC

Alliance Wealth Advisors LLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 29.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 903 shares of the company’s stock after buying an additional 204 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Elevance Health were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Atomi Financial Group Inc. lifted its stake in Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after acquiring an additional 25 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Elevance Health by 7.5% during the 3rd quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock valued at $728,000 after acquiring an additional 97 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Elevance Health by 46.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock valued at $49,000 after acquiring an additional 30 shares in the last quarter. Independence Bank of Kentucky boosted its position in Elevance Health by 44.3% during the third quarter. Independence Bank of Kentucky now owns 1,303 shares of the company’s stock worth $678,000 after purchasing an additional 400 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Elevance Health by 45.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 27,836 shares of the company’s stock valued at $14,473,000 after purchasing an additional 8,754 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.2 %

Shares of ELV opened at $391.23 on Friday. The company has a market capitalization of $90.73 billion, a P/E ratio of 15.28, a PEG ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The business’s 50 day simple moving average is $385.87 and its 200-day simple moving average is $453.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its 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, sell-side analysts predict that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 25.46%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ELV shares. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Argus reiterated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Royal Bank of Canada lowered their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

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.