57,554 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 57,554 shares of the company’s stock, valued at approximately $21,232,000.

A number of other large investors also recently made changes to their positions in the business. Consolidated Portfolio Review Corp acquired a new position in Elevance Health in the 4th quarter valued at approximately $219,000. Rik Saylor Financial Inc. acquired a new position in shares of Elevance Health in the fourth quarter worth $225,000. Money Concepts Capital Corp raised its holdings in shares of Elevance Health by 9.0% during the fourth quarter. Money Concepts Capital Corp now owns 1,764 shares of the company’s stock worth $651,000 after acquiring an additional 146 shares in the last quarter. Tranquilli Financial Advisor LLC boosted its position in Elevance Health by 14.1% during the fourth quarter. Tranquilli Financial Advisor LLC now owns 1,387 shares of the company’s stock valued at $512,000 after purchasing an additional 171 shares during the last quarter. Finally, E. Ohman J or Asset Management AB grew its stake in Elevance Health by 11.1% in the fourth quarter. E. Ohman J or Asset Management AB now owns 10,440 shares of the company’s stock valued at $3,851,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ELV shares. Truist Financial lowered their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. UBS Group lowered their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Morgan Stanley decreased their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Stock Up 0.2 %

Shares of ELV opened at $391.23 on Friday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market capitalization of $90.73 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.19 and a beta of 0.83. The company has a 50-day simple moving average of $386.20 and a 200-day simple moving average of $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 announced its quarterly earnings data 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 research analysts expect that Elevance Health, Inc. will post 34.07 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Monday, March 10th. 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.