Polaris Capital Management LLC Raises Position in Elevance Health, Inc. (NYSE:ELV)

Polaris Capital Management LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,169 shares of the company’s stock after purchasing an additional 400 shares during the period. Polaris Capital Management LLC’s holdings in Elevance Health were worth $26,992,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ELV. Raelipskie Partnership bought a new position in shares of Elevance Health during the 3rd quarter valued at approximately $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $27,000. Eastern Bank purchased a new stake in Elevance Health in the 3rd quarter worth about $31,000. Crews Bank & Trust purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC grew its stake in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $396.34 on Tuesday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a market cap of $91.92 billion, a PE ratio of 15.48, a P/E/G ratio of 1.17 and a beta of 0.83. 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 business has a 50-day moving average price of $385.87 and a 200 day moving average price of $452.95.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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 34.05 earnings per share for the current fiscal 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. 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.73%. Elevance Health’s dividend payout ratio is 26.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ELV shares. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. TD Cowen decreased their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Argus reaffirmed a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Three 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 company 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.