Wiser Advisor Group LLC Has $84,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Wiser Advisor Group LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 89.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 229 shares of the company’s stock after buying an additional 108 shares during the period. Wiser Advisor Group LLC’s holdings in Elevance Health were worth $84,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Diversify Advisory Services LLC lifted its stake in shares of Elevance Health by 6.2% in the third quarter. Diversify Advisory Services LLC now owns 701 shares of the company’s stock worth $365,000 after acquiring an additional 41 shares during the period. HM Payson & Co. lifted its stake in shares of Elevance Health by 16.1% in the third quarter. HM Payson & Co. now owns 730 shares of the company’s stock worth $380,000 after acquiring an additional 101 shares during the period. AustralianSuper Pty Ltd lifted its stake in shares of Elevance Health by 7.7% in the third quarter. AustralianSuper Pty Ltd now owns 8,505 shares of the company’s stock worth $4,423,000 after acquiring an additional 607 shares during the period. Stephens Inc. AR lifted its stake in shares of Elevance Health by 3.8% in the third quarter. Stephens Inc. AR now owns 20,878 shares of the company’s stock worth $10,856,000 after acquiring an additional 756 shares during the period. Finally, Principal Securities Inc. lifted its stake in shares of Elevance Health by 17.5% in the third quarter. Principal Securities Inc. now owns 15,899 shares of the company’s stock worth $8,268,000 after acquiring an additional 2,369 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on ELV. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Truist Financial dropped their price target 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. Argus reissued a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Mizuho dropped their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Up 1.1 %

Shares of Elevance Health stock opened at $397.09 on Friday. The stock has a fifty day simple moving average of $387.78 and a 200 day simple moving average of $439.71. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a market capitalization of $90.28 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 represents a $6.84 annualized dividend and a yield of 1.72%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

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.