Dynamic Advisor Solutions LLC Purchases 1,393 Shares of Elevance Health, Inc. (NYSE:ELV)

Dynamic Advisor Solutions LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,571 shares of the company’s stock after purchasing an additional 1,393 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Elevance Health were worth $2,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its position in Elevance Health by 18.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,343 shares of the company’s stock worth $864,000 after purchasing an additional 373 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of Elevance Health by 2,232.4% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 139,010 shares of the company’s stock valued at $51,267,000 after buying an additional 133,050 shares during the period. Inspire Investing LLC raised its position in shares of Elevance Health by 24.9% during the fourth quarter. Inspire Investing LLC now owns 2,842 shares of the company’s stock worth $1,048,000 after acquiring an additional 566 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Elevance Health by 10.4% in the fourth quarter. Avior Wealth Management LLC now owns 1,300 shares of the company’s stock worth $480,000 after acquiring an additional 122 shares during the period. Finally, Mutual Advisors LLC boosted its holdings in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ELV. Truist Financial dropped their price target 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. Wells Fargo & Company dropped their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Mizuho decreased their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $525.60.

Read Our Latest Research Report on Elevance Health

Elevance Health Stock Performance

Shares of ELV stock opened at $401.43 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $386.21 and a two-hundred day simple moving average of $462.34. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market capitalization of $93.10 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELVGet Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Analysts forecast that Elevance Health, Inc. will post 32.95 EPS 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. 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 1.70%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

About Elevance Health

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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