Fidelis Capital Partners LLC Has $728,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Fidelis Capital Partners LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 17.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,544 shares of the company’s stock after buying an additional 232 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Elevance Health were worth $728,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares during the period. Chicago Capital LLC raised its stake in shares of Elevance Health by 244.2% in the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after purchasing an additional 4,986 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $2,235,000. International Assets Investment Management LLC raised its stake in shares of Elevance Health by 45,888.1% in the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after purchasing an additional 255,138 shares during the period. Finally, Avitas Wealth Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $2,137,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock traded up $6.67 on Friday, hitting $531.86. The stock had a trading volume of 316,865 shares, compared to its average volume of 1,043,614. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $539.11. The business’s 50 day moving average is $508.63 and its two-hundred day moving average is $482.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock has a market cap of $123.76 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.46 earnings per share. Analysts forecast that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio is currently 25.90%.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ELV shares. Wells Fargo & Company lifted their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada lifted their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Jefferies Financial Group lifted their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays lifted their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $583.69.

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.