Nixon Peabody Trust Co. Takes Position in Elevance Health, Inc. (NYSE:ELV)

Nixon Peabody Trust Co. purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 11,959 shares of the company’s stock, valued at approximately $4,412,000.

Several other institutional investors have also recently made changes to their positions in the company. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the third quarter worth $26,000. Dunhill Financial LLC increased 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 worth $37,000 after acquiring an additional 26 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health during the third quarter worth $44,000. Crews Bank & Trust purchased a new stake in shares of Elevance Health during the fourth quarter worth $34,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Elevance Health during the third quarter worth $52,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ELV shares. Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Up 1.1 %

NYSE ELV opened at $397.09 on Friday. The stock has a market capitalization of $90.28 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a 50-day moving average price of $387.78 and a 200 day moving average price of $439.71. 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 issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.72%. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

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.