Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Howard Bailey Securities LLC

Howard Bailey Securities LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 55.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,220 shares of the company’s stock after buying an additional 437 shares during the period. Howard Bailey Securities LLC’s holdings in Elevance Health were worth $450,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ELV. Mutual Advisors LLC boosted its holdings in Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after acquiring an additional 52 shares during the period. Czech National Bank grew its holdings in shares of Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after purchasing an additional 3,049 shares in the last quarter. Iridian Asset Management LLC CT increased its stake in Elevance Health by 10.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after buying an additional 3,786 shares during the period. International Assets Investment Management LLC lifted its holdings in Elevance Health by 85,533.1% during the 3rd 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 in the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after acquiring an additional 50,603 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $385.52 on Thursday. 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, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a 50-day simple moving average of $385.25 and a 200-day simple moving average of $451.16. The company has a market capitalization of $89.41 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts anticipate 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. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a boost 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 1.77%. Elevance Health’s dividend payout ratio is 25.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. TD Cowen decreased 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. Finally, Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Three investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.