Acropolis Investment Management LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

Posted by Matthew Steigler on Mar 19th, 2023

Acropolis Investment Management LLC bought a new position in Elevance Health, Inc. (NYSE:ELV – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,304 shares of the company’s stock, valued at approximately $1,695,000.

Other institutional investors also recently bought and sold shares of the company. Tompkins Financial Corp bought a new position in Elevance Health in the 4th quarter worth $30,000. Accurate Wealth Management LLC purchased a new stake in Elevance Health in the 4th quarter worth $34,000. Bank of New Hampshire purchased a new stake in Elevance Health in the 4th quarter worth $36,000. Mascoma Wealth Management LLC purchased a new stake in Elevance Health in the 4th quarter worth $59,000. Finally, Cambridge Trust Co. purchased a new stake in Elevance Health in the 4th quarter worth $63,000. 87.66% of the stock is owned by institutional investors.

Elevance Health Trading Down 1.1 %

ELV opened at $463.17 on Friday. The firm has a market cap of $109.98 billion, a P/E ratio of 18.68, a P/E/G ratio of 1.18 and a beta of 0.85. Elevance Health, Inc. has a 12 month low of $440.02 and a 12 month high of $549.52. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $478.90 and a 200 day moving average of $491.56.

Elevance Health (NYSE:ELV – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The company reported $5.23 EPS for the quarter, topping the consensus estimate of $5.20 by $0.03. The company had revenue of $39.67 billion during the quarter, compared to analyst estimates of $39.62 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.85%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $5.14 earnings per share. As a group, research analysts forecast that Elevance Health, Inc. will post 32.72 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, March 9th. This represents a $5.92 annualized dividend and a yield of 1.28%. This is an increase from Elevance Health’s previous quarterly dividend of $1.28. Elevance Health’s dividend payout ratio (DPR) is presently 23.88%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on Elevance Health from $505.00 to $523.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 26th. Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $609.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. StockNews.com began coverage on Elevance Health in a research report on Thursday. They set a “strong-buy” rating for the company. JPMorgan Chase & Co. raised their price objective on Elevance Health from $555.00 to $572.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Elevance Health from $581.00 to $571.00 and set a “buy” rating for the company in a research report on Wednesday, March 8th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $583.89.

About Elevance Health

(Get Rating)

Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.