Tranquilli Financial Advisor LLC Has $512,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Tranquilli Financial Advisor LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 14.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,387 shares of the company’s stock after buying an additional 171 shares during the quarter. Tranquilli Financial Advisor LLC’s holdings in Elevance Health were worth $512,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raelipskie Partnership bought a new stake in Elevance Health during the 3rd quarter worth $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $27,000. Eastern Bank bought a new stake in Elevance Health in the third quarter worth about $31,000. Dunhill Financial LLC boosted its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health during the third quarter worth $44,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV opened at $405.54 on Tuesday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $94.05 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.19 and a beta of 0.83. The business’s 50 day moving average is $386.50 and its two-hundred day moving average is $456.70.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts forecast that Elevance Health, Inc. will post 34.07 EPS 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. Investors of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.69%. 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 is 25.46%.

Analyst Ratings Changes

ELV has been the subject of several research reports. Mizuho cut their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Stephens cut 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 report on Wednesday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Argus reiterated a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Company 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.