Colonial River Investments LLC Acquires 946 Shares of Elevance Health, Inc. (NYSE:ELV)

Colonial River Investments LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 168.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,509 shares of the company’s stock after purchasing an additional 946 shares during the period. Colonial River Investments LLC’s holdings in Elevance Health were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $26,000. Eastern Bank acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $31,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $34,000. Dunhill Financial LLC boosted 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 worth $37,000 after acquiring an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $385.04 on Monday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a fifty day simple moving average of $385.25 and a 200 day simple moving average of $443.22. The company has a market capitalization of $87.54 billion, a PE ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Argus restated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. 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 research report on Tuesday, January 28th. Finally, Mizuho cut 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. Four investment 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. According to MarketBeat, Elevance Health presently 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.