Elevance Health, Inc. (NYSE:ELV) Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,375 shares of the company’s stock after acquiring an additional 452 shares during the period. New York Life Investment Management LLC’s holdings in Elevance Health were worth $13,050,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Raelipskie Partnership acquired a new position in Elevance Health in the third quarter valued at $26,000. Crews Bank & Trust purchased a new stake in Elevance Health in the 4th quarter valued at about $34,000. Dunhill Financial LLC increased its stake in shares of Elevance Health by 57.8% during 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 during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Elevance Health during the 3rd quarter worth about $44,000. Finally, Financial Perspectives Inc acquired a new stake in shares of Elevance Health in the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ELV shares. Wells Fargo & Company dropped their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Argus restated a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Mizuho reduced their price objective 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. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Price Performance

ELV opened at $393.42 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a market cap of $89.45 billion, a price-to-earnings ratio of 15.36, a PEG 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. The company has a fifty day simple moving average of $387.15 and a 200 day simple moving average of $440.60.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. Equities research analysts expect that Elevance Health, Inc. will post 33.96 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. Shareholders of record on Monday, March 10th will be issued 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 1.74%. Elevance Health’s payout ratio is currently 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.