Consolidated Planning Corp Purchases 78 Shares of Elevance Health, Inc. (NYSE:ELV)

Consolidated Planning Corp boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 931 shares of the company’s stock after buying an additional 78 shares during the period. Consolidated Planning Corp’s holdings in Elevance Health were worth $343,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Raelipskie Partnership bought a new position in shares of Elevance Health during the third quarter valued at $26,000. PSI Advisors LLC bought a new position in Elevance Health during the 3rd quarter valued at about $27,000. Eastern Bank purchased a new stake in shares of Elevance Health during the 3rd quarter valued at about $31,000. Dunhill Financial LLC grew its stake in shares of 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. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health during the third quarter valued at approximately $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $391.68 on Friday. The stock has a market cap of $90.84 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a fifty day moving average price of $384.96 and a 200-day moving average price of $450.70. 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 (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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%. Equities analysts anticipate that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend 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 yield of 1.75%. Elevance Health’s payout ratio is currently 25.46%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company reduced 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. Argus reissued a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health 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.