Rik Saylor Financial Inc. Takes Position in Elevance Health, Inc. (NYSE:ELV)

Rik Saylor Financial Inc. acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 610 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in shares of Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after acquiring an additional 129,709 shares during the period. Geode Capital Management LLC increased its holdings in shares of Elevance Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after purchasing an additional 85,770 shares during the period. Sanders Capital LLC increased its holdings in Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after buying an additional 44,805 shares during the period. Wellington Management Group LLP increased its stake in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after acquiring an additional 334,552 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent analyst reports. Argus reaffirmed a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Wells Fargo & Company cut 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. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Price Performance

Elevance Health stock opened at $402.13 on Thursday. 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 stock has a market cap of $93.26 billion, a P/E ratio of 15.70, a PEG ratio of 1.19 and a beta of 0.83. The company has a 50-day moving average price of $386.45 and a 200 day moving average price of $454.94. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Elevance Health, Inc. will post 34.07 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced 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. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 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.