JB Capital LLC Increases Position in Elevance Health, Inc. (NYSE:ELV)

JB Capital LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 597.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,384 shares of the company’s stock after purchasing an additional 8,038 shares during the period. JB Capital LLC’s holdings in Elevance Health were worth $3,462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Capital LLC raised its holdings in Elevance Health by 7.2% during the fourth quarter. Chicago Capital LLC now owns 2,169 shares of the company’s stock worth $800,000 after purchasing an additional 145 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in shares of Elevance Health in the 4th quarter valued at $532,000. CENTRAL TRUST Co raised its stake in Elevance Health by 12.7% during the 4th quarter. CENTRAL TRUST Co now owns 1,726 shares of the company’s stock worth $637,000 after acquiring an additional 195 shares in the last quarter. Round Rock Advisors LLC lifted its position in Elevance Health by 1.2% in the fourth quarter. Round Rock Advisors LLC now owns 7,298 shares of the company’s stock valued at $2,771,000 after acquiring an additional 89 shares during the last quarter. Finally, Golden State Equity Partners boosted its stake in Elevance Health by 84.0% in the fourth quarter. Golden State Equity Partners now owns 1,038 shares of the company’s stock valued at $383,000 after acquiring an additional 474 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.9 %

NYSE:ELV opened at $395.82 on Monday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a fifty day moving average price of $386.50 and a two-hundred day moving average price of $457.14. The stock has a market capitalization of $91.80 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.20 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released 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 net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 34.09 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed 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. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Analyst Ratings Changes

Several analysts have recently weighed in on ELV shares. Argus reissued a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. 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 report on Tuesday, January 28th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $517.03.

About Elevance Health

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.