Golden State Wealth Management LLC Invests $75,000 in Elevance Health, Inc. (NYSE:ELV)

Golden State Wealth Management LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, Holdings Channel.com reports. The firm purchased 202 shares of the company’s stock, valued at approximately $75,000.

A number of other hedge funds have also recently bought and sold shares of the business. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter worth approximately $26,000. PSI Advisors LLC acquired a new position in Elevance Health in the third quarter worth about $27,000. Eastern Bank bought a new position in Elevance Health during the 3rd quarter worth approximately $31,000. Crews Bank & Trust bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $34,000. Finally, Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Mizuho dropped their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Three equities research 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 stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $396.34 on Tuesday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a market cap of $91.92 billion, a P/E ratio of 15.48, a PEG ratio of 1.17 and a beta of 0.83. The stock has a fifty day moving average price of $385.87 and a two-hundred day moving average price of $452.95. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Research analysts forecast that Elevance Health, Inc. will post 34.05 EPS 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. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is presently 26.71%.

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.