Valley Wealth Managers Inc. Buys 2,846 Shares of Elevance Health, Inc. (NYSE:ELV)

Valley Wealth Managers Inc. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,349 shares of the company’s stock after purchasing an additional 2,846 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Elevance Health were worth $14,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ELV. Raelipskie Partnership bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $31,000. Crews Bank & Trust bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $34,000. Finally, Dunhill Financial LLC lifted its position in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ELV. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Barclays upped their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Down 0.5 %

NYSE:ELV opened at $389.58 on Tuesday. 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 firm has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth 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 has a fifty day moving average price of $385.08 and a 200-day moving average price of $448.13.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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%. Sell-side analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.76%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 25.46%.

Elevance Health Company 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.