Alpha Omega Wealth Management LLC Acquires 168 Shares of Elevance Health, Inc. (NYSE:ELV)

Alpha Omega Wealth Management LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 21.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 961 shares of the company’s stock after buying an additional 168 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Elevance Health were worth $355,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ELV. Quarry LP bought a new stake in Elevance Health in the 2nd quarter valued at $73,000. Sanctuary Advisors LLC bought a new stake in shares of Elevance Health in the second quarter valued at about $12,805,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Elevance Health by 41.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 50,000 shares of the company’s stock valued at $27,093,000 after acquiring an additional 14,700 shares during the period. Centaurus Financial Inc. increased its stake in Elevance Health by 66.9% during the second quarter. Centaurus Financial Inc. now owns 918 shares of the company’s stock valued at $498,000 after acquiring an additional 368 shares during the period. Finally, Czech National Bank lifted its position in shares of Elevance Health by 6.7% in the 3rd quarter. Czech National Bank now owns 47,237 shares of the company’s stock worth $24,563,000 after acquiring an additional 2,947 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research reports. Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. UBS Group decreased their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Mizuho dropped their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Down 0.9 %

Shares of NYSE ELV opened at $395.82 on Friday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a market cap of $91.80 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm’s 50-day simple moving average is $386.50 and its 200 day simple moving average is $457.81.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts expect that Elevance Health, Inc. will post 34.09 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. Elevance Health’s payout ratio is 25.46%.

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.