Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Archford Capital Strategies LLC

Archford Capital Strategies LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.0% in the fourth quarter, Holdings Channel reports. The firm owned 3,959 shares of the company’s stock after buying an additional 487 shares during the quarter. Archford Capital Strategies LLC’s holdings in Elevance Health were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after acquiring an additional 129,709 shares during the period. Geode Capital Management LLC lifted its stake in shares of Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after acquiring an additional 85,770 shares during the period. Sanders Capital LLC lifted its stake in shares of Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after acquiring an additional 44,805 shares during the period. Wellington Management Group LLP lifted its stake 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. Finally, 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. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada cut their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday. Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $401.43 on Friday. The company has a 50-day simple moving average of $386.21 and a 200-day simple moving average of $462.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a market cap of $93.10 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Elevance Health Company Profile

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.