Evermay Wealth Management LLC Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

Evermay Wealth Management LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,667 shares of the company’s stock after buying an additional 89 shares during the period. Evermay Wealth Management LLC’s holdings in Elevance Health were worth $615,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the third quarter worth about $26,000. PSI Advisors LLC bought a new stake in Elevance Health during the 3rd quarter worth approximately $27,000. Eastern Bank purchased a new stake in Elevance Health in the 3rd quarter worth approximately $31,000. Crews Bank & Trust bought a new position in Elevance Health in the 4th quarter valued at $34,000. Finally, Dunhill Financial LLC grew its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent analyst reports. Mizuho lowered their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. 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 research note on Friday, January 24th. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Down 0.9 %

ELV opened at $395.82 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. 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 moving average price is $386.50 and its 200-day moving average price is $457.81. The company has a market cap of $91.80 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.20 and a beta of 0.84.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 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%. On average, equities analysts expect that Elevance Health, Inc. will post 34.09 EPS for the current year.

Elevance Health Increases Dividend

The company 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 dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.73%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is presently 25.46%.

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.