Elevance Health, Inc. (NYSE:ELV) Shares Bought by US Bancorp DE

US Bancorp DE lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,363 shares of the company’s stock after acquiring an additional 511 shares during the period. US Bancorp DE’s holdings in Elevance Health were worth $22,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ELV. Stifel Financial Corp lifted its stake in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after acquiring an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Elevance Health by 16.2% in the 3rd 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 period. Wellington Management Group LLP raised 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 purchasing an additional 286,905 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $129,221,000. Finally, Proficio Capital Partners LLC raised its holdings in shares of Elevance Health by 49,164.4% in the 4th quarter. Proficio Capital Partners LLC now owns 231,050 shares of the company’s stock worth $85,234,000 after purchasing an additional 230,581 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV opened at $397.09 on Monday. The company’s 50 day moving average price is $387.78 and its 200 day moving average price is $438.36. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a market capitalization of $90.28 billion, a PE ratio of 15.51, a PEG ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 net margin of 3.38% and a return on equity of 18.28%. Research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is an increase 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 payout ratio is presently 26.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report 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 report on Friday, January 24th. Three equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.