Leuthold Group LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,531 shares of the company’s stock, valued at approximately $7,898,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC boosted its stake in Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after purchasing an additional 29 shares during the period. Perigon Wealth Management LLC raised its position in shares of Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after buying an additional 29 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its position in shares of Elevance Health by 3.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after buying an additional 29 shares in the last quarter. Savvy Advisors Inc. raised its position in shares of Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after buying an additional 30 shares in the last quarter. Finally, Detalus Advisors LLC raised its position in shares of Elevance Health by 1.8% during the 3rd quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock worth $558,000 after buying an additional 31 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.
Elevance Health Stock Down 1.0%
NYSE ELV opened at $392.74 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The company’s 50 day simple moving average is $322.88 and its 200 day simple moving average is $334.02. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $412.96. The company has a market capitalization of $85.29 billion, a P/E ratio of 16.71, a PEG ratio of 2.23 and a beta of 0.66.
Elevance Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s payout ratio is presently 29.26%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Royal Bank Of Canada downgraded shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target on the stock. in a research report on Tuesday, February 3rd. Leerink Partners set a $364.00 price target on shares of Elevance Health in a research report on Thursday, April 23rd. Guggenheim boosted their price target on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Sanford C. Bernstein boosted their price target on shares of Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Jefferies Financial Group dropped their price target on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $384.58.
Read Our Latest Research Report on ELV
Elevance Health Profile
Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.
Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.
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