Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 47.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,872 shares of the company’s stock after purchasing an additional 19,907 shares during the quarter. Empowered Funds LLC’s holdings in Elevance Health were worth $22,825,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter worth about $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter worth about $27,000. Eastern Bank acquired a new stake in shares of Elevance Health during the third quarter worth about $31,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health during the fourth quarter worth about $34,000. Finally, Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% during 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. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $391.23 on Friday. The firm’s fifty day simple moving average is $385.87 and its 200-day simple moving average is $453.71. The stock has a market capitalization of $90.73 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. 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, beating 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%. As a group, equities analysts forecast that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 25.46%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ELV shares. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Royal Bank of Canada cut their target price 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. Morgan Stanley cut their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Argus restated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.