Granite Harbor Advisors Inc. Buys 227 Shares of Elevance Health, Inc. (NYSE:ELV)

Granite Harbor Advisors Inc. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 5.7% during the fourth quarter, Holdings Channel reports. The fund owned 4,198 shares of the company’s stock after acquiring an additional 227 shares during the quarter. Elevance Health accounts for 0.9% of Granite Harbor Advisors Inc.’s holdings, making the stock its 25th largest position. Granite Harbor Advisors Inc.’s holdings in Elevance Health were worth $1,549,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Cypress Wealth Services LLC boosted its holdings in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares during the period. Atomi Financial Group Inc. boosted its stake in Elevance Health by 4.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares during the period. Lifeworks Advisors LLC grew its holdings in Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after buying an additional 25 shares during the last quarter. Catalyst Financial Partners LLC increased its position in Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after buying an additional 26 shares during the period. Finally, Fullcircle Wealth LLC lifted its holdings in shares of Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after buying an additional 26 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 0.2 %

ELV opened at $399.36 on Friday. The firm has a market cap of $92.62 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.20 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm’s 50-day simple moving average is $386.71 and its 200-day simple moving average is $459.16. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts anticipate that Elevance Health, Inc. will post 34.09 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.71%. This is a boost 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 currently 25.46%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group decreased their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Truist Financial cut their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Stephens lowered 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. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price 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.