4,500 Shares in Elevance Health, Inc. $ELV Purchased by Polianta Ltd

Polianta Ltd acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the third quarter, Holdings Channel reports. The fund acquired 4,500 shares of the company’s stock, valued at approximately $1,454,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC bought a new stake in shares of Elevance Health during the 1st quarter worth $29,000. Vermillion & White Wealth Management Group LLC increased its position in Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Elevance Health during the 2nd quarter worth $32,000. Glass Jacobson Investment Advisors llc lifted its position in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 80 shares in the last quarter. Finally, Saudi Central Bank bought a new position in shares of Elevance Health in the first quarter worth $40,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $343.30 on Friday. The firm’s fifty day simple moving average is $334.05 and its two-hundred day simple moving average is $330.17. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a market cap of $76.29 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.59 and a beta of 0.52. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same quarter in the previous year, the firm earned $8.37 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s dividend payout ratio is 27.96%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Guggenheim raised their price target on Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Morgan Stanley lowered their price objective on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. The Goldman Sachs Group assumed coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $343.00 target price on the stock. Finally, Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Twelve analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $396.21.

Elevance Health Company 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.