Principal Securities Inc. Grows Holdings in Elevance Health, Inc. (NYSE:ELV)

Principal Securities Inc. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,374 shares of the company’s stock after acquiring an additional 2,475 shares during the quarter. Principal Securities Inc.’s holdings in Elevance Health were worth $6,778,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ELV. Lifeworks Advisors LLC lifted its holdings in Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after buying an additional 25 shares during the period. Catalyst Financial Partners LLC lifted its holdings in shares of Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after buying an additional 26 shares during the period. Fullcircle Wealth LLC boosted its holdings in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after buying an additional 26 shares during the last quarter. Dunhill Financial LLC increased 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 buying an additional 26 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its holdings in Elevance Health by 5.6% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock worth $263,000 after buying an additional 27 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.5 %

NYSE ELV opened at $389.58 on Friday. The company has a 50-day moving average of $385.08 and a 200-day moving average of $449.32. 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 12 month low of $362.21 and a 12 month high of $567.26. The company has a market cap of $90.35 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83.

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%. As a group, equities analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.76%. 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 dividend payout ratio (DPR) is currently 25.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ELV shares. Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. TD Cowen reduced their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Mizuho cut their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has an average 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.