VisionPoint Advisory Group LLC Purchases New Stake in Elevance Health, Inc. (NYSE:ELV)

VisionPoint Advisory Group LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,253 shares of the company’s stock, valued at approximately $458,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank purchased a new position in Elevance Health in the third quarter worth approximately $31,000. Crews Bank & Trust purchased a new position in Elevance Health in the fourth quarter worth approximately $34,000. Finally, Dunhill Financial LLC grew its position 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 acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.2 %

Shares of NYSE ELV opened at $390.73 on Friday. The stock has a market cap of $90.62 billion, a P/E ratio of 15.26, a PEG ratio of 1.15 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business’s fifty day simple moving average is $385.18 and its 200-day simple moving average is $445.29.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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%. As a group, equities analysts predict that Elevance Health, Inc. will post 34 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed 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 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 of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ELV shares. Argus reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Mizuho lowered their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Barclays increased their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price 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.