Global Retirement Partners LLC Buys New Shares in Elevance Health, Inc. $ELV

Global Retirement Partners LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, HoldingsChannel reports. The fund purchased 3,933 shares of the company’s stock, valued at approximately $1,530,000.

Several other large investors have also added to or reduced their stakes in the company. LPL Financial LLC boosted its position in Elevance Health by 0.4% in the first quarter. LPL Financial LLC now owns 177,911 shares of the company’s stock valued at $77,384,000 after buying an additional 702 shares during the last quarter. Prosperity Consulting Group LLC acquired a new stake in Elevance Health during the 1st quarter valued at approximately $224,000. Mackenzie Financial Corp boosted its holdings in shares of Elevance Health by 5.1% in the 1st quarter. Mackenzie Financial Corp now owns 51,844 shares of the company’s stock valued at $22,550,000 after acquiring an additional 2,538 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Elevance Health by 20.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,614 shares of the company’s stock worth $2,007,000 after acquiring an additional 769 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Elevance Health during the first quarter worth $4,098,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ELV. Truist Financial set a $400.00 price target on shares of Elevance Health in a report on Tuesday, October 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Elevance Health in a report on Monday. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price target on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Barclays decreased their price target on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $398.44.

Elevance Health Stock Performance

NYSE ELV opened at $338.61 on Thursday. The stock has a market capitalization of $75.25 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.23 and a beta of 0.60. The stock has a 50-day moving average of $332.35 and a 200 day moving average of $336.49. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.Elevance Health’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $8.37 earnings per share. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

About Elevance Health

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.