Keystone Financial Services Has $530,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Keystone Financial Services boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,436 shares of the company’s stock after acquiring an additional 33 shares during the period. Keystone Financial Services’ holdings in Elevance Health were worth $530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. increased its position in shares of Elevance Health by 4.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 1,383 shares of the company’s stock worth $510,000 after buying an additional 58 shares during the period. Palouse Capital Management Inc. bought a new position in shares of Elevance Health during the 4th quarter worth about $1,501,000. Allworth Financial LP grew its stake in shares of Elevance Health by 103.9% in the 4th quarter. Allworth Financial LP now owns 2,688 shares of the company’s stock valued at $1,050,000 after buying an additional 1,370 shares during the period. Strategic Financial Concepts LLC bought a new stake in Elevance Health in the 4th quarter valued at about $21,232,000. Finally, Principal Securities Inc. raised its stake in Elevance Health by 15.6% during the 4th quarter. Principal Securities Inc. now owns 18,374 shares of the company’s stock worth $6,778,000 after buying an additional 2,475 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Wells Fargo & Company decreased their price target 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. Barclays lifted their price objective 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. Morgan Stanley lowered their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Argus reaffirmed a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

Elevance Health stock opened at $389.58 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business’s 50 day simple moving average is $385.08 and its 200 day simple moving average is $448.71. 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 price-to-earnings ratio of 15.21, a PEG ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.76%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 25.46%.

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.