Atomi Financial Group Inc. Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Atomi Financial Group Inc. boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 657 shares of the company’s stock after acquiring an additional 42 shares during the period. Atomi Financial Group Inc.’s holdings in Elevance Health were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Raelipskie Partnership acquired a new position in Elevance Health during the 3rd quarter valued at approximately $26,000. PSI Advisors LLC acquired a new position in Elevance Health during the 3rd quarter valued at approximately $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter valued at approximately $31,000. Dunhill Financial LLC increased its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in Elevance Health during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.0 %

ELV stock opened at $401.43 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $93.10 billion, a PE ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm’s fifty day moving average is $386.21 and its 200 day moving average is $461.87.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that Elevance Health, Inc. will post 32.95 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.70%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent analyst reports. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Morgan Stanley cut their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company cut their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday. Three investment 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $525.60.

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.