Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Cape Investment Advisory Inc.

Cape Investment Advisory Inc. boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,844 shares of the company’s stock after buying an additional 948 shares during the quarter. Cape Investment Advisory Inc.’s holdings in Elevance Health were worth $1,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after acquiring an additional 129,709 shares during the period. Geode Capital Management LLC grew its position in shares of Elevance Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after acquiring an additional 85,770 shares during the period. Sanders Capital LLC grew its holdings in Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP grew its holdings in Elevance Health by 6.9% in the third 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 during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Elevance Health by 16.2% in the third 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 during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $397.09 on Friday. The firm has a 50 day simple moving average of $387.78 and a 200-day simple moving average of $439.07. The stock has a market cap of $90.28 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared 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 represents a $6.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ELV shares. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stephens lowered shares of 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 research report on Wednesday, January 22nd. 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. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.