Impact Investors Inc Takes $568,000 Position in Elevance Health, Inc. (NYSE:ELV)

Impact Investors Inc acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,540 shares of the company’s stock, valued at approximately $568,000.

A number of other hedge funds have also modified their holdings of ELV. Pathway Financial Advisers LLC increased its stake in Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares in the last quarter. Stifel Financial Corp increased its position in shares of Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after acquiring an additional 538,978 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $1,246,574,000 after acquiring an additional 334,552 shares during the period. Wellington Management Group LLP lifted its position in shares of Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after acquiring an additional 286,905 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in Elevance Health in the 3rd quarter worth approximately $129,221,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent analyst reports. Argus reissued a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, 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 report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Price Performance

NYSE ELV opened at $402.95 on Wednesday. The firm has a market cap of $91.61 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The stock’s 50-day moving average is $386.22 and its two-hundred day moving average is $441.32. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. 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 posted its 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%. On average, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal 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 paid a $1.71 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

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.