Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Empirical Finance LLC

Empirical Finance LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,300 shares of the company’s stock after acquiring an additional 973 shares during the period. Empirical Finance LLC’s holdings in Elevance Health were worth $3,800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter valued at about $27,000. Eastern Bank purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $31,000. Dunhill Financial LLC boosted its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. TD Cowen lowered their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Price Performance

Shares of ELV opened at $391.23 on Friday. The firm has a fifty day moving average price of $385.87 and a 200 day moving average price of $453.71. The stock has a market cap of $90.73 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current 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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 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.