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.
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%.
About Elevance Health
Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.
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