Van ECK Associates Corp Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Van ECK Associates Corp increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,884 shares of the company’s stock after purchasing an additional 2,102 shares during the period. Van ECK Associates Corp’s holdings in Elevance Health were worth $5,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raelipskie Partnership purchased a new stake in Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter worth approximately $27,000. Eastern Bank acquired a new stake in Elevance Health in the third quarter valued at approximately $31,000. Crews Bank & Trust purchased a new position in Elevance Health in the fourth quarter worth approximately $34,000. Finally, Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% in 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 during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.7 %

NYSE:ELV opened at $382.46 on Wednesday. The firm has a market capitalization of $88.70 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $384.96 and a 200-day moving average of $447.12. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

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, topping 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%. Analysts predict that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 25.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ELV shares. Truist Financial decreased 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 note on Monday, January 6th. Argus reissued a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Morgan Stanley lowered their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three equities 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 stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $517.03.

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.