Deseret Mutual Benefit Administrators Has $180,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Deseret Mutual Benefit Administrators increased its stake in Elevance Health, Inc. (NYSE:ELV) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 489 shares of the company’s stock after purchasing an additional 41 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Elevance Health were worth $180,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dahring Cusmano LLC bought a new position in Elevance Health in the 4th quarter valued at about $377,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $458,000. Centricity Wealth Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $60,000. Legacy Capital Group California Inc. increased its stake in Elevance Health by 37.5% in the fourth quarter. Legacy Capital Group California Inc. now owns 756 shares of the company’s stock valued at $279,000 after acquiring an additional 206 shares during the last quarter. Finally, ING Groep NV acquired a new position in Elevance Health during the fourth quarter valued at approximately $10,927,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 1.4 %

Shares of NYSE:ELV opened at $385.04 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 business’s 50 day simple moving average is $385.25 and its two-hundred day simple moving average is $444.32. The firm has a market cap of $89.30 billion, a P/E ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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, research analysts forecast that Elevance Health, Inc. will post 34 EPS 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. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend 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 dividend yield of 1.78%. Elevance Health’s payout ratio is presently 25.46%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELV. Truist Financial lowered 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. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Finally, Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.