Elevance Health, Inc. $ELV Stake Raised by Level Four Advisory Services LLC

Level Four Advisory Services LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,947 shares of the company’s stock after purchasing an additional 950 shares during the period. Level Four Advisory Services LLC’s holdings in Elevance Health were worth $6,592,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ELV. WPG Advisers LLC acquired a new stake in shares of Elevance Health during the first quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC lifted its position in Elevance Health by 94.9% in the 2nd 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 in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Elevance Health during the 2nd quarter valued at $32,000. Saudi Central Bank acquired a new stake in shares of Elevance Health during the 1st quarter valued at $40,000. Finally, Glass Jacobson Investment Advisors llc grew its holdings in shares of Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.7%

Shares of Elevance Health stock opened at $338.61 on Friday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $332.82 and a two-hundred day moving average price of $336.50. The stock has a market capitalization of $75.25 billion, a P/E ratio of 13.84, a PEG ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating 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 company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter last year, the company posted $8.37 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on ELV shares. Mizuho cut their price objective on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. TD Cowen lifted their price target on Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group began coverage on Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Finally, UBS Group reduced their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $398.44.

Elevance Health 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.