Farmers & Merchants Trust Co of Chambersburg PA Has $1.53 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,157 shares of the company’s stock after buying an additional 93 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Elevance Health were worth $1,534,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter worth approximately $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health during the third quarter worth $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter valued at about $31,000. Crews Bank & Trust acquired a new position in Elevance Health in the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC boosted its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.6 %

NYSE:ELV opened at $391.68 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month 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 business has a 50 day moving average price of $384.96 and a two-hundred day moving average price of $450.70. The company has a market cap of $90.84 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its earnings results 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 net margin of 3.38% and a return on equity of 18.28%. As a group, analysts expect that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 25.46%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ELV shares. Barclays boosted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Royal Bank of Canada dropped their price target 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 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

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.