Cambiar Investors LLC Makes New $45.61 Million Investment in Elevance Health, Inc. (NYSE:ELV)

Cambiar Investors LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 123,650 shares of the company’s stock, valued at approximately $45,614,000. Elevance Health accounts for 1.8% of Cambiar Investors LLC’s portfolio, making the stock its 22nd biggest position. Cambiar Investors LLC owned 0.05% of Elevance Health as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Raelipskie Partnership bought a new stake in shares of Elevance Health in the third quarter worth approximately $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the third quarter worth approximately $27,000. Eastern Bank bought a new stake in shares of Elevance Health in the third quarter worth approximately $31,000. Crews Bank & Trust bought a new stake in shares of Elevance Health in the fourth quarter worth approximately $34,000. Finally, Dunhill Financial LLC grew its stake in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $396.34 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a fifty day moving average price of $385.87 and a 200 day moving average price of $452.95. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market cap of $91.92 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.17 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 net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. Elevance Health’s dividend payout ratio is currently 26.71%.

Analyst Ratings Changes

ELV has been the subject of several recent research reports. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Morgan Stanley cut their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Three investment 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. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $517.03.

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.