Impact Investors Inc Buys New Shares in Elevance Health, Inc. (NYSE:ELV)

Impact Investors Inc purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,540 shares of the company’s stock, valued at approximately $568,000.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after purchasing an additional 129,709 shares during the period. Geode Capital Management LLC boosted its stake in Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after buying an additional 85,770 shares in the last quarter. Sanders Capital LLC increased its holdings in Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after buying an additional 44,805 shares during the period. Wellington Management Group LLP raised 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 valued at $2,320,024,000 after buying an additional 286,905 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Elevance Health by 16.2% during 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.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued 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 price target of $517.03.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $402.95 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $386.22 and a 200 day simple moving average of $441.32. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market cap of $91.61 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

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

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.