Dana Investment Advisors Inc. Purchases 2,558 Shares of Elevance Health, Inc. (NYSE:ELV)

Dana Investment Advisors Inc. increased its position in Elevance Health, Inc. (NYSE:ELV) by 14.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,501 shares of the company’s stock after acquiring an additional 2,558 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Elevance Health were worth $7,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Elevance Health by 4.1% during the 3rd quarter. Van ECK Associates Corp now owns 12,782 shares of the company’s stock worth $6,647,000 after purchasing an additional 507 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Elevance Health by 6.0% during the third quarter. Impax Asset Management Group plc now owns 25,305 shares of the company’s stock worth $13,159,000 after buying an additional 1,435 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Elevance Health in the third quarter valued at approximately $274,000. HF Advisory Group LLC grew its stake in shares of Elevance Health by 12.5% in the third quarter. HF Advisory Group LLC now owns 3,731 shares of the company’s stock worth $1,940,000 after acquiring an additional 415 shares during the last quarter. Finally, Balentine LLC grew its stake in shares of Elevance Health by 261.0% in the third quarter. Balentine LLC now owns 2,083 shares of the company’s stock worth $1,083,000 after acquiring an additional 1,506 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 0.1 %

Shares of ELV stock opened at $397.67 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $90.41 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a 50-day moving average price of $389.26 and a 200 day moving average price of $436.03.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. Research analysts forecast that Elevance Health, Inc. will post 33.96 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. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date is Monday, March 10th. 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 yield of 1.72%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Analyst Ratings Changes

ELV has been the subject of a number of research reports. Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Argus restated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Stephens lowered 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 note on Wednesday, January 22nd. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

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.