Journey Strategic Wealth LLC Purchases 395 Shares of Elevance Health, Inc. (NYSE:ELV)

Journey Strategic Wealth LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 60.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,053 shares of the company’s stock after buying an additional 395 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Elevance Health were worth $389,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter valued at $27,000. Eastern Bank bought a new stake in Elevance Health during the 3rd quarter worth about $31,000. Crews Bank & Trust acquired a new position in shares of Elevance Health during the 4th quarter worth about $34,000. Finally, Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $395.82 on Monday. 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 cap of $91.80 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 1.20 and a beta of 0.84. The stock’s fifty day moving average price is $386.50 and its two-hundred day moving average price is $457.14. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate 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, equities analysts forecast that Elevance Health, Inc. will post 34.09 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ELV. Argus reissued a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Royal Bank of Canada decreased their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Mizuho dropped their target price 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. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average 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.