Tobam Acquires 27 Shares of Elevance Health, Inc. (NYSE:ELV)

Tobam raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 434 shares of the company’s stock after purchasing an additional 27 shares during the period. Tobam’s holdings in Elevance Health were worth $160,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Atomi Financial Group Inc. grew its holdings in shares of Elevance Health by 4.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares during the last quarter. Brookstone Capital Management boosted its position in Elevance Health by 7.5% in the third quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock valued at $728,000 after buying an additional 97 shares in the last quarter. Daymark Wealth Partners LLC grew its stake in shares of Elevance Health by 1.4% during the third quarter. Daymark Wealth Partners LLC now owns 2,150 shares of the company’s stock worth $1,118,000 after buying an additional 30 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Elevance Health by 46.2% during the third quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock worth $49,000 after buying an additional 30 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Elevance Health by 12.7% in the 3rd quarter. Wedmont Private Capital now owns 2,348 shares of the company’s stock valued at $1,155,000 after acquiring an additional 265 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $391.23 on Friday. The firm has a market cap of $90.73 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The business’s 50 day moving average price is $386.20 and its two-hundred day moving average price is $454.49. 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 (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts anticipate that Elevance Health, Inc. will post 34.07 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is presently 25.46%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays upped their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Finally, Morgan Stanley cut their price target 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. Three equities 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’s stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target 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.