Regatta Capital Group LLC Has $328,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Regatta Capital Group LLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 19.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 888 shares of the company’s stock after purchasing an additional 145 shares during the period. Regatta Capital Group LLC’s holdings in Elevance Health were worth $328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in Elevance Health by 1.1% during the 2nd quarter. Mackenzie Financial Corp now owns 73,964 shares of the company’s stock worth $40,078,000 after acquiring an additional 773 shares during the last quarter. Kathmere Capital Management LLC acquired a new position in shares of Elevance Health during the second quarter worth $210,000. Ascent Group LLC grew its stake in shares of Elevance Health by 30.2% in the second quarter. Ascent Group LLC now owns 4,903 shares of the company’s stock worth $2,657,000 after purchasing an additional 1,138 shares during the last quarter. Creative Planning increased its holdings in Elevance Health by 10.3% in the second quarter. Creative Planning now owns 31,156 shares of the company’s stock valued at $16,882,000 after purchasing an additional 2,901 shares during the period. Finally, Magnolia Capital Advisors LLC bought a new position in Elevance Health during the 2nd quarter worth $19,085,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 0.0 %

ELV stock opened at $401.43 on Friday. The stock’s 50 day simple moving average is $386.21 and its 200 day simple moving average is $462.34. The company has a market cap of $93.10 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

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 19.56% and a net margin of 3.68%. On average, research analysts expect that Elevance Health, Inc. will post 32.95 earnings per share 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. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ELV shares. Mizuho reduced their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. TD Cowen reduced their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research report on Wednesday. Finally, Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $525.60.

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.