Altfest L J & Co. Inc. Has $625,000 Position in Elevance Health, Inc. (NYSE:ELV)

Altfest L J & Co. Inc. raised its position in Elevance Health, Inc. (NYSE:ELV) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,324 shares of the company’s stock after buying an additional 68 shares during the period. Altfest L J & Co. Inc.’s holdings in Elevance Health were worth $625,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Fortis Capital Advisors LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at $29,000. TD Capital Management LLC acquired a new position in shares of Elevance Health during the 4th quarter worth about $30,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 3rd quarter valued at about $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Elevance Health in the third quarter worth $30,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Elevance Health during the second quarter worth $39,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Cantor Fitzgerald lifted their price objective on Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays assumed coverage on Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $569.36.

Insider Buying and Selling

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Shares of ELV stock traded down $0.37 during trading on Thursday, hitting $519.59. The company had a trading volume of 343,242 shares, compared to its average volume of 1,014,664. The stock’s 50-day moving average price is $500.26 and its 200 day moving average price is $475.45. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $521.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $120.91 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.23 EPS. Equities analysts expect that Elevance Health, Inc. will post 37.15 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.25%. Elevance Health’s payout ratio is presently 25.90%.

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.