Moody National Bank Trust Division Purchases New Holdings in Elevance Health, Inc. (NYSE:ELV)

Moody National Bank Trust Division acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,948 shares of the company’s stock, valued at approximately $3,051,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tompkins Financial Corp bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $30,000. Accurate Wealth Management LLC purchased a new position in Elevance Health during the fourth quarter valued at $34,000. Bank of New Hampshire bought a new stake in Elevance Health in the fourth quarter worth $36,000. Cambridge Trust Co. bought a new stake in Elevance Health in the fourth quarter worth $63,000. Finally, MADDEN SECURITIES Corp bought a new stake in Elevance Health in the fourth quarter worth $77,000. Hedge funds and other institutional investors own 87.66% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $5.33 during midday trading on Friday, hitting $463.17. 1,743,145 shares of the company’s stock traded hands, compared to its average volume of 1,164,080. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $109.98 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85. The firm has a fifty day moving average of $478.90 and a 200 day moving average of $491.53. Elevance Health, Inc. has a 1 year low of $440.02 and a 1 year high of $549.52.

Elevance Health (NYSE:ELV – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The company reported $5.23 earnings per share for the quarter, topping the consensus estimate of $5.20 by $0.03. The business had revenue of $39.67 billion for the quarter, compared to the consensus estimate of $39.62 billion. Elevance Health had a net margin of 3.85% and a return on equity of 19.56%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $5.14 earnings per share. On average, analysts forecast that Elevance Health, Inc. will post 32.72 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, March 9th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.28. Elevance Health’s payout ratio is currently 23.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Elevance Health from $555.00 to $572.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Loop Capital lifted their target price on shares of Elevance Health from $550.00 to $565.00 in a report on Monday, January 30th. Wells Fargo & Company increased their price target on shares of Elevance Health from $557.00 to $609.00 and gave the company an “overweight” rating in a report on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Elevance Health from $581.00 to $571.00 and set a “buy” rating for the company in a report on Wednesday, March 8th. Finally, SVB Leerink reissued an “outperform” rating and issued a $580.00 target price on shares of Elevance Health in a report on Thursday, January 26th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $583.89.

Elevance Health Company Profile

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Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.