Mutual Advisors LLC Has $886,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Mutual Advisors LLC raised its position in Elevance Health, Inc. (NYSE:ELV – Get Rating) by 14.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,927 shares of the company’s stock after buying an additional 239 shares during the quarter. Mutual Advisors LLC’s holdings in Elevance Health were worth $886,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at about $25,000. Moisand Fitzgerald Tamayo LLC bought a new position in Elevance Health in the 4th quarter valued at about $25,000. Hexagon Capital Partners LLC bought a new position in Elevance Health in the 4th quarter valued at about $26,000. Destiny Wealth Partners LLC bought a new position in Elevance Health in the 4th quarter valued at about $26,000. Finally, Sugarloaf Wealth Management LLC bought a new position in Elevance Health in the 4th quarter valued at about $26,000. 88.30% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently issued reports on ELV shares. Truist Financial decreased their price target on shares of Elevance Health from $580.00 to $560.00 in a report on Tuesday, June 20th. Cantor Fitzgerald started coverage on shares of Elevance Health in a report on Thursday, April 20th. They set an “overweight” rating and a $547.00 price target on the stock. TD Cowen decreased their price target on shares of Elevance Health from $577.00 to $564.00 and set an “outperform” rating on the stock in a report on Thursday, April 20th. Royal Bank of Canada raised shares of Elevance Health from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $523.00 to $572.00 in a report on Tuesday, March 28th. Finally, Wells Fargo & Company decreased their price target on shares of Elevance Health from $597.00 to $561.00 in a report on Monday, April 24th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Buy” and an average target price of $569.27.

Elevance Health Stock Up 0.1 %

Shares of NYSE ELV opened at $450.40 on Friday. The company has a market capitalization of $106.77 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.12 and a beta of 0.85. Elevance Health, Inc. has a 52-week low of $428.87 and a 52-week high of $549.52. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.43 and a current ratio of 1.43. The company’s 50 day moving average price is $458.17 and its 200-day moving average price is $475.77.

Elevance Health (NYSE:ELV – Get Rating) last issued its quarterly earnings results on Wednesday, April 19th. The company reported $9.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.26 by $0.20. The firm had revenue of $41.90 billion for the quarter, compared to the consensus estimate of $40.93 billion. Elevance Health had a net margin of 3.86% and a return on equity of 20.05%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.25 EPS. Equities analysts forecast that Elevance Health, Inc. will post 32.78 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were given a $1.48 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.31%. Elevance Health’s dividend payout ratio (DPR) is currently 23.04%.