Asio Capital LLC Has $4.03 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Asio Capital LLC raised its position in Elevance Health, Inc. (NYSE:ELV) by 12.6% in the 4th quarter, HoldingsChannel reports. The fund owned 10,910 shares of the company’s stock after purchasing an additional 1,221 shares during the period. Asio Capital LLC’s holdings in Elevance Health were worth $4,025,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Raelipskie Partnership bought a new position in Elevance Health in the third quarter worth $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter worth about $27,000. Eastern Bank bought a new position in shares of Elevance Health during the 3rd quarter worth about $31,000. Dunhill Financial LLC increased its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in Elevance Health in the third quarter worth about $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELV. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $525.60.

Elevance Health Stock Up 0.0 %

NYSE ELV opened at $401.43 on Friday. The stock has a market capitalization of $93.10 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a fifty day moving average of $386.21 and a 200-day moving average of $462.34.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. 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.