BSN CAPITAL PARTNERS Ltd Takes $80.40 Million Position in Elevance Health, Inc. (NYSE:ELV)

BSN CAPITAL PARTNERS Ltd bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, HoldingsChannel.com reports. The firm bought 219,603 shares of the company’s stock, valued at approximately $80,396,000. Elevance Health accounts for about 3.2% of BSN CAPITAL PARTNERS Ltd’s portfolio, making the stock its 7th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new stake in Elevance Health during the third quarter worth approximately $26,000. PSI Advisors LLC acquired a new position in shares of Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank acquired a new position in shares of Elevance Health in the third quarter valued at approximately $31,000. Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in shares of Elevance Health in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several research analyst reports. TD Cowen dropped their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Morgan Stanley cut their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Down 3.0 %

Elevance Health stock opened at $389.94 on Friday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market capitalization of $90.44 billion, a PE ratio of 15.23, a PEG ratio of 1.19 and a beta of 0.83. The business’s 50-day simple moving average is $386.45 and its 200-day simple moving average is $454.94.

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, 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%. Equities research analysts forecast that Elevance Health, Inc. will post 34.07 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.75%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is currently 26.71%.

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.