Vest Financial LLC Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Vest Financial LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 75.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,613 shares of the company’s stock after acquiring an additional 38,834 shares during the quarter. Vest Financial LLC’s holdings in Elevance Health were worth $33,427,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Atomi Financial Group Inc. grew its holdings in shares of Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after buying an additional 25 shares in the last quarter. Brookstone Capital Management boosted its position in Elevance Health by 7.5% during the third quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock worth $728,000 after acquiring an additional 97 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Elevance Health by 1.4% during the 3rd quarter. Daymark Wealth Partners LLC now owns 2,150 shares of the company’s stock valued at $1,118,000 after acquiring an additional 30 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Elevance Health by 46.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock valued at $49,000 after acquiring an additional 30 shares during the last quarter. Finally, Wedmont Private Capital lifted its stake in Elevance Health by 12.7% in the 3rd quarter. Wedmont Private Capital now owns 2,348 shares of the company’s stock worth $1,155,000 after purchasing an additional 265 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on ELV. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays lifted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada dropped their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Argus reaffirmed a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Three 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Up 0.2 %

Shares of NYSE ELV opened at $391.23 on Friday. 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 stock has a market capitalization of $90.73 billion, a PE ratio of 15.28, a PEG ratio of 1.19 and a beta of 0.83. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a fifty day simple moving average of $386.20 and a 200-day simple moving average of $454.49.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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, equities analysts forecast that Elevance Health, Inc. will post 34.07 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. Elevance Health’s dividend 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.