Proficio Capital Partners LLC Has $85.23 Million Position in Elevance Health, Inc. (NYSE:ELV)

Proficio Capital Partners LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 49,164.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 231,050 shares of the company’s stock after buying an additional 230,581 shares during the period. Proficio Capital Partners LLC owned approximately 0.10% of Elevance Health worth $85,234,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Lifeworks Advisors LLC increased its holdings in Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after buying an additional 25 shares during the period. Catalyst Financial Partners LLC increased its holdings in Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after buying an additional 26 shares during the period. Fullcircle Wealth LLC increased its holdings in Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after buying an additional 26 shares during the period. Dunhill Financial LLC increased its holdings 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 buying an additional 26 shares during the period. Finally, Catalina Capital Group LLC increased its holdings in Elevance Health by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company’s stock valued at $861,000 after buying an additional 27 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on ELV shares. Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Up 1.9 %

NYSE:ELV opened at $393.42 on Friday. The firm’s 50 day simple moving average is $387.15 and its 200 day simple moving average is $440.60. 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 one year low of $362.21 and a one year high of $567.26. The company has a market cap of $89.45 billion, a PE ratio of 15.36, a P/E/G ratio of 1.18 and a beta of 0.83.

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, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 26.71%.

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.