Portfolio Design Labs LLC Acquires 2,296 Shares of Elevance Health, Inc. (NYSE:ELV)

Portfolio Design Labs LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 37.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,403 shares of the company’s stock after acquiring an additional 2,296 shares during the period. Portfolio Design Labs LLC’s holdings in Elevance Health were worth $3,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raelipskie Partnership bought a new position in Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC bought a new position in Elevance Health during the 3rd quarter worth about $27,000. Eastern Bank bought a new position in Elevance Health during the 3rd quarter worth about $31,000. Crews Bank & Trust bought a new position in Elevance Health during the 4th quarter worth about $34,000. Finally, Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV opened at $391.04 on Wednesday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $90.69 billion, a PE ratio of 15.27, a P/E/G ratio of 1.17 and a beta of 0.83. The firm has a 50 day moving average of $385.59 and a two-hundred day moving average of $452.12.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. On average, analysts anticipate that Elevance Health, Inc. will post 34.05 EPS 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 given a dividend of $1.71 per share. 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

Wall Street Analyst Weigh In

Several analysts have commented on ELV shares. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Morgan Stanley decreased their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. 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 research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.