Fort Point Capital Partners LLC Purchases 27 Shares of Elevance Health, Inc. (NYSE:ELV)

Fort Point Capital Partners LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 784 shares of the company’s stock after purchasing an additional 27 shares during the quarter. Fort Point Capital Partners LLC’s holdings in Elevance Health were worth $341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. Roundview Capital LLC lifted its holdings in shares of Elevance Health by 2.9% during the first quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after purchasing an additional 52 shares during the period. Moors & Cabot Inc. purchased a new position in Elevance Health during the first quarter valued at approximately $251,000. Baird Financial Group Inc. raised its position in Elevance Health by 0.4% during the first quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock valued at $7,305,000 after acquiring an additional 57 shares in the last quarter. Zions Bancorporation N.A. raised its position in Elevance Health by 52.1% during the first quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after acquiring an additional 306 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Elevance Health by 102.9% during the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after acquiring an additional 429 shares in the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $547.00 price objective on shares of Elevance Health in a research note on Friday, February 2nd. JPMorgan Chase & Co. decreased their price target on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. Finally, Morgan Stanley raised their target price on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $564.60.

View Our Latest Research Report on ELV

Elevance Health Stock Up 1.5 %

Shares of NYSE ELV traded up $7.33 during midday trading on Wednesday, hitting $501.16. 225,724 shares of the company’s stock were exchanged, compared to its average volume of 1,200,786. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.41. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $502.14. The company has a market cap of $117.77 billion, a PE ratio of 19.62, a P/E/G ratio of 1.10 and a beta of 0.78. The firm’s fifty day simple moving average is $477.40 and its 200-day simple moving average is $464.01.

Elevance Health (NYSE:ELVGet Free Report) last issued its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, topping the consensus estimate of $5.60 by $0.02. The business had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $5.23 EPS. Research analysts predict that Elevance Health, Inc. will post 37.14 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio (DPR) is currently 23.52%.

About Elevance Health

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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