Consolidated Planning Corp Acquires 78 Shares of Elevance Health, Inc. (NYSE:ELV)

Consolidated Planning Corp boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 931 shares of the company’s stock after acquiring an additional 78 shares during the quarter. Consolidated Planning Corp’s holdings in Elevance Health were worth $343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. Exchange Traded Concepts LLC increased its position in shares of Elevance Health by 50.8% in the third quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock worth $1,024,000 after purchasing an additional 664 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Elevance Health by 1.8% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,336 shares of the company’s stock worth $1,215,000 after buying an additional 41 shares during the last quarter. Sumitomo Life Insurance Co. raised its position in shares of Elevance Health by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 2,264 shares of the company’s stock valued at $1,177,000 after buying an additional 61 shares in the last quarter. Tamar Securities LLC grew its position in Elevance Health by 14.0% in the third quarter. Tamar Securities LLC now owns 31,372 shares of the company’s stock worth $16,314,000 after acquiring an additional 3,842 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. grew its position in Elevance Health by 1.6% in the third quarter. ZWJ Investment Counsel Inc. now owns 109,062 shares of the company’s stock worth $56,712,000 after acquiring an additional 1,733 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.6 %

NYSE:ELV opened at $391.68 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market cap of $90.84 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.17 and a beta of 0.83. The company has a 50-day moving average price of $384.96 and a 200-day moving average price of $450.70. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

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 net margin of 3.38% and a return on equity of 18.28%. Equities analysts predict that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELV. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada cut their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three investment 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Company 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.