Avantra Family Wealth Inc. Takes $559,000 Position in Elevance Health, Inc. (NYSE:ELV)

Avantra Family Wealth Inc. purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,514 shares of the company’s stock, valued at approximately $559,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Raelipskie Partnership bought a new stake in Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC bought a new stake in Elevance Health during the 3rd quarter worth about $27,000. Eastern Bank bought a new stake in Elevance Health during the 3rd quarter worth about $31,000. Crews Bank & Trust bought a new stake in Elevance Health during the 4th quarter worth about $34,000. Finally, Dunhill Financial LLC lifted its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays increased their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company decreased 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 report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Trading Down 0.9 %

NYSE ELV opened at $395.82 on Friday. The business has a 50 day simple moving average of $386.50 and a 200 day simple moving average of $457.14. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The stock has a market capitalization of $91.80 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.20 and a beta of 0.84. 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 announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts expect that Elevance Health, Inc. will post 34.09 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

About Elevance Health

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.