Compound Global Advisors LLC Invests $1.14 Million in Elevance Health, Inc. (NYSE:ELV)

Compound Global Advisors LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, Holdings Channel reports. The firm bought 3,084 shares of the company’s stock, valued at approximately $1,138,000. Elevance Health accounts for 4.6% of Compound Global Advisors LLC’s investment portfolio, making the stock its 6th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Raelipskie Partnership bought a new stake in shares of Elevance Health during the 3rd quarter worth $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health during the 3rd quarter worth $27,000. Eastern Bank bought a new stake in shares of Elevance Health during the 3rd quarter worth $31,000. Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter worth $34,000. Finally, Dunhill Financial LLC raised its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. 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 note on Tuesday, January 28th. TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Argus restated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three equities 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Up 1.3 %

Shares of NYSE ELV opened at $396.34 on Tuesday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $91.92 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.17 and a beta of 0.83. The business has a 50-day moving average of $385.87 and a 200-day moving average of $452.95.

Elevance Health (NYSE:ELV) last issued 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 expect that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. 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. This represents a $6.84 annualized dividend and a dividend yield of 1.73%. Elevance Health’s payout ratio is presently 26.71%.

About Elevance Health

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.