Alliance Wealth Advisors LLC Has $333,000 Position in Elevance Health, Inc. (NYSE:ELV)

Alliance Wealth Advisors LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 29.2% during the fourth quarter, HoldingsChannel reports. The firm owned 903 shares of the company’s stock after buying an additional 204 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Elevance Health were worth $333,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. TD Cowen lowered their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Mizuho reduced their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

Elevance Health stock opened at $391.23 on Friday. 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 52 week low of $362.21 and a 52 week high of $567.26. The stock has a market capitalization of $90.73 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The stock has a fifty day moving average of $385.87 and a 200-day moving average of $453.71.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. On average, sell-side analysts expect 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. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.75%. Elevance Health’s dividend payout ratio (DPR) 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.