Van ECK Associates Corp Acquires 2,102 Shares of Elevance Health, Inc. (NYSE:ELV)

Van ECK Associates Corp boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ELV. Raelipskie Partnership bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC acquired a new position in shares of Elevance Health during the third quarter worth approximately $27,000. Eastern Bank acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $31,000. Crews Bank & Trust bought a new position in Elevance Health in the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC grew its holdings in Elevance Health by 57.8% during the 3rd 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 owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.7 %

Shares of NYSE:ELV opened at $382.46 on Wednesday. The firm has a market cap of $88.70 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.17 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 business has a fifty day simple moving average of $384.96 and a 200 day simple moving average of $447.12. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 1.79%. The ex-dividend date 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 is currently 25.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus restated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.