Retirement Guys Formula LLC Grows Stock Position in Elevance Health, Inc. (NYSE:ELV)

Retirement Guys Formula LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,794 shares of the company’s stock after buying an additional 84 shares during the period. Retirement Guys Formula LLC’s holdings in Elevance Health were worth $1,031,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in shares of Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after buying an additional 129,709 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after buying an additional 85,770 shares in the last quarter. Sanders Capital LLC boosted its position in shares of Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after buying an additional 44,805 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley dropped their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. TD Cowen dropped their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Stock Down 1.3 %

Shares of NYSE:ELV opened at $391.04 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a 50 day moving average of $385.59 and a two-hundred day moving average of $452.12. The company has a market capitalization of $90.69 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, analysts forecast that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm 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 dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is 25.46%.

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.