Edmp Inc. Has $2.39 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Edmp Inc. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,473 shares of the company’s stock after acquiring an additional 111 shares during the period. Elevance Health comprises 2.3% of Edmp Inc.’s holdings, making the stock its 13th biggest holding. Edmp Inc.’s holdings in Elevance Health were worth $2,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its stake in shares of Elevance Health by 50.8% during the third quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock valued at $1,024,000 after purchasing an additional 664 shares in the last quarter. Granite Harbor Advisors Inc. raised its holdings in Elevance Health by 1.2% in the 3rd quarter. Granite Harbor Advisors Inc. now owns 3,971 shares of the company’s stock valued at $2,065,000 after buying an additional 48 shares during the last quarter. Sentry LLC grew its holdings in Elevance Health by 0.9% during the 3rd quarter. Sentry LLC now owns 3,209 shares of the company’s stock worth $1,669,000 after acquiring an additional 30 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in Elevance Health by 1.8% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,336 shares of the company’s stock valued at $1,215,000 after acquiring an additional 41 shares during the period. Finally, Sumitomo Life Insurance Co. raised its stake in shares of Elevance Health by 2.8% during the third quarter. Sumitomo Life Insurance Co. now owns 2,264 shares of the company’s stock valued at $1,177,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.3 %

ELV opened at $396.34 on Tuesday. The firm has a market capitalization of $91.92 billion, a PE ratio of 15.48, 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 current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company’s 50-day moving average is $385.87 and its 200 day moving average is $452.95.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. As a group, research analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared 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 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 1.73%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ELV shares. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. TD Cowen decreased their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Finally, Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.