Rik Saylor Financial Inc. Makes New $225,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Rik Saylor Financial Inc. acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, HoldingsChannel reports. The fund acquired 610 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors have also recently made changes to their positions in the company. Czech National Bank raised its position in Elevance Health by 6.7% in the 3rd quarter. Czech National Bank now owns 47,237 shares of the company’s stock valued at $24,563,000 after purchasing an additional 2,947 shares in the last quarter. Miracle Mile Advisors LLC grew its holdings in Elevance Health by 4.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,442 shares of the company’s stock worth $750,000 after acquiring an additional 56 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares during the last quarter. Trust Co of Kansas acquired a new stake in shares of Elevance Health in the 3rd quarter valued at $256,000. Finally, Brookstone Capital Management lifted its position in shares of Elevance Health by 7.5% during the 3rd quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock worth $728,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ELV. Barclays upped their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Mizuho cut their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. UBS Group lowered their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

ELV opened at $402.13 on Thursday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market cap of $93.26 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.19 and a beta of 0.83. The stock’s 50 day simple moving average is $386.45 and its 200 day simple moving average is $454.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.70%. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

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.