Geneos Wealth Management Inc. Purchases 1,853 Shares of Elevance Health, Inc. (NYSE:ELV)

Geneos Wealth Management Inc. grew its position in Elevance Health, Inc. (NYSE:ELV) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,322 shares of the company’s stock after acquiring an additional 1,853 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Elevance Health were worth $8,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC raised its position in Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares during the period. Stifel Financial Corp raised its holdings in Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after buying an additional 538,978 shares during the period. International Assets Investment Management LLC lifted its position in Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares during the period. Finally, Wellington Management Group LLP increased its position in Elevance Health by 6.9% during 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 acquiring an additional 286,905 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 0.0 %

Elevance Health stock opened at $401.43 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The business has a fifty day moving average of $386.21 and a two-hundred day moving average of $462.34. The firm has a market cap of $93.10 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

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 net margin of 3.68% and a return on equity of 19.56%. On average, analysts forecast that Elevance Health, Inc. will post 32.95 earnings per share 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 issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change 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 1.70%. Elevance Health’s payout ratio is 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent analyst reports. TD Cowen dropped their price target 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. Royal Bank of Canada dropped their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley dropped their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $525.60.

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.