Roxbury Financial LLC Makes New $190,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Roxbury Financial LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 466 shares of the company’s stock, valued at approximately $190,000.

Several other hedge funds have also recently made changes to their positions in the company. Lifeworks Advisors LLC boosted its holdings in shares of Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after purchasing an additional 26 shares during the last quarter. Fullcircle Wealth LLC raised its stake in shares of Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after acquiring an additional 26 shares during the period. Dunhill Financial LLC boosted its position in shares of 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 buying an additional 26 shares during the period. Finally, TCI Wealth Advisors Inc. grew its position in Elevance Health by 5.6% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock valued at $263,000 after acquiring an additional 27 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent research reports. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. UBS Group cut their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. 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 research note on Monday, January 6th. Finally, Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

Elevance Health stock opened at $389.58 on Friday. The firm has a market capitalization of $90.35 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The stock’s 50 day moving average price is $384.93 and its 200 day moving average price is $450.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.76%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio 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.