2,714 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Hickory Asset Management Inc.

Hickory Asset Management Inc. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,714 shares of the company’s stock, valued at approximately $1,001,000.

Other institutional investors have also recently modified their holdings of the company. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter valued at $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the 3rd quarter valued at $27,000. Eastern Bank purchased a new stake in shares of Elevance Health during the 3rd quarter valued at $31,000. Crews Bank & Trust purchased a new stake in shares of Elevance Health during the 4th quarter valued at $34,000. Finally, Dunhill Financial LLC grew its stake 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 buying an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.5 %

Shares of NYSE:ELV opened at $389.58 on Friday. The stock has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a 50 day moving average price of $384.93 and a 200 day moving average price of $450.29.

Elevance Health (NYSE:ELV) last issued 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, research analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current fiscal 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 given a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. Elevance Health’s dividend payout ratio is presently 26.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ELV shares. Wells Fargo & Company lowered their price objective 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. UBS Group lowered their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently 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.