Forsta AP Fonden Buys 900 Shares of Elevance Health, Inc. (NYSE:ELV)

Forsta AP Fonden grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 70,100 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Forsta AP Fonden’s holdings in Elevance Health were worth $25,860,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ELV. Creative Planning boosted its position in Elevance Health by 10.3% during the second quarter. Creative Planning now owns 31,156 shares of the company’s stock valued at $16,882,000 after acquiring an additional 2,901 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Elevance Health by 21.0% during the 2nd quarter. NewEdge Advisors LLC now owns 14,364 shares of the company’s stock valued at $7,783,000 after purchasing an additional 2,492 shares in the last quarter. Quarry LP acquired a new stake in Elevance Health during the second quarter worth approximately $73,000. B. Riley Wealth Advisors Inc. lifted its stake in Elevance Health by 39.5% in the second quarter. B. Riley Wealth Advisors Inc. now owns 3,982 shares of the company’s stock valued at $2,158,000 after buying an additional 1,127 shares during the period. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Elevance Health by 18.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $1,020,000 after buying an additional 289 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 1.4 %

Shares of NYSE:ELV opened at $405.67 on Wednesday. The stock has a market capitalization of $94.08 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. The stock’s 50-day moving average price is $386.65 and its 200-day moving average price is $459.57. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.95 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. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research reports. Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Finally, UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price 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.