Financial Perspectives Inc Buys Shares of 135 Elevance Health, Inc. (NYSE:ELV)

Financial Perspectives Inc purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 135 shares of the company’s stock, valued at approximately $50,000.

Other large investors also recently modified their holdings of the company. Raelipskie Partnership purchased a new position in Elevance Health in the third quarter worth about $26,000. PSI Advisors LLC bought a new position in Elevance Health in the third quarter worth approximately $27,000. Eastern Bank purchased a new position in shares of Elevance Health during the 3rd quarter worth $31,000. Dunhill Financial LLC grew its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health in the 3rd quarter worth $44,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $391.86 on Thursday. The business’s 50-day moving average is $384.93 and its 200 day moving average is $445.67. 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 $90.88 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.17 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts forecast that Elevance Health, Inc. will post 34 earnings per share for the current fiscal 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 $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ELV shares. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Stephens cut shares of 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 note on Wednesday, January 22nd. Wells Fargo & Company dropped 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. Finally, Morgan Stanley decreased their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. 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 company has a consensus rating of “Moderate Buy” and a consensus target price 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.