Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Granite Harbor Advisors Inc.

Granite Harbor Advisors Inc. boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,198 shares of the company’s stock after purchasing an additional 227 shares during the quarter. Elevance Health makes up about 0.9% of Granite Harbor Advisors Inc.’s investment portfolio, making the stock its 25th largest holding. Granite Harbor Advisors Inc.’s holdings in Elevance Health were worth $1,549,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ELV. Pathway Financial Advisers LLC lifted its holdings in shares of Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after acquiring an additional 538,978 shares during the period. International Assets Investment Management LLC grew its position in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after acquiring an additional 334,552 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Monday. Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. TD Cowen decreased their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Performance

Shares of ELV opened at $399.36 on Friday. 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 50 day moving average is $386.71 and its 200-day moving average is $459.16. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market capitalization of $92.62 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.20 and a beta of 0.84.

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%. Equities research analysts anticipate that Elevance Health, Inc. will post 34.09 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. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.71%. Elevance Health’s payout ratio is 25.46%.

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.