Stanley Laman Group Ltd. Purchases 648 Shares of Elevance Health, Inc. (NYSE:ELV)

Stanley Laman Group Ltd. grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,208 shares of the company’s stock after acquiring an additional 648 shares during the period. Stanley Laman Group Ltd.’s holdings in Elevance Health were worth $3,028,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Exchange Traded Concepts LLC lifted its holdings in Elevance Health by 50.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock worth $1,024,000 after buying an additional 664 shares during the period. Sentry LLC increased its position in Elevance Health by 0.9% during the 3rd quarter. Sentry LLC now owns 3,209 shares of the company’s stock valued at $1,669,000 after buying an additional 30 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Elevance Health by 1.8% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,336 shares of the company’s stock worth $1,215,000 after purchasing an additional 41 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Elevance Health by 2.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 2,264 shares of the company’s stock worth $1,177,000 after purchasing an additional 61 shares in the last quarter. Finally, Tamar Securities LLC increased its holdings in shares of Elevance Health by 14.0% in the 3rd quarter. Tamar Securities LLC now owns 31,372 shares of the company’s stock worth $16,314,000 after purchasing an additional 3,842 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. Morgan Stanley lowered their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Truist Financial reduced their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

Elevance Health stock opened at $385.52 on Thursday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a market capitalization of $89.41 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm’s fifty day moving average price is $385.25 and its 200 day moving average price is $451.16.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 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.