SVB Wealth LLC Invests $11.11 Million in Elevance Health, Inc. (NYSE:ELV)

SVB Wealth LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 30,114 shares of the company’s stock, valued at approximately $11,109,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the third quarter worth about $26,000. Crews Bank & Trust acquired a new stake in Elevance Health during the 4th quarter valued at approximately $34,000. Dunhill Financial LLC increased its holdings in 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 last quarter. Peterson Financial Group Inc. acquired a new position in shares of Elevance Health in the 3rd quarter valued at approximately $44,000. Finally, Financial Perspectives Inc purchased a new position in shares of Elevance Health during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $397.09 on Friday. 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 capitalization of $90.28 billion, a PE ratio of 15.51, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The business’s fifty day moving average price is $387.78 and its two-hundred day moving average price is $439.71.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current 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 given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.72%. Elevance Health’s payout ratio is currently 26.71%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Stephens lowered shares of 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. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Truist Financial decreased their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Argus restated a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.