Tobam Has $160,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Tobam increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 434 shares of the company’s stock after buying an additional 27 shares during the period. Tobam’s holdings in Elevance Health were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Atomi Financial Group Inc. raised its holdings in shares of Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares during the period. Brookstone Capital Management increased its position in Elevance Health by 7.5% during the third quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock worth $728,000 after buying an additional 97 shares during the last quarter. Daymark Wealth Partners LLC raised its stake in Elevance Health by 1.4% in the third quarter. Daymark Wealth Partners LLC now owns 2,150 shares of the company’s stock valued at $1,118,000 after buying an additional 30 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Elevance Health by 46.2% in the third quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock valued at $49,000 after buying an additional 30 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of Elevance Health by 12.7% during the 3rd quarter. Wedmont Private Capital now owns 2,348 shares of the company’s stock worth $1,155,000 after acquiring an additional 265 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ELV shares. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada reduced their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Mizuho decreased their target price 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. 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 data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Price Performance

Elevance Health stock opened at $391.23 on Friday. The firm has a market cap of $90.73 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock’s fifty day moving average price is $386.20 and its two-hundred day moving average price is $454.49. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS 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 expect that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared 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 represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 25.46%.

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.