Elevance Health, Inc. $ELV Stake Lifted by Lawson Kroeker Investment Management Inc. NE

Lawson Kroeker Investment Management Inc. NE increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 25.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 43,258 shares of the company’s stock after acquiring an additional 8,652 shares during the quarter. Elevance Health makes up about 2.6% of Lawson Kroeker Investment Management Inc. NE’s investment portfolio, making the stock its 10th largest position. Lawson Kroeker Investment Management Inc. NE’s holdings in Elevance Health were worth $13,978,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. WPG Advisers LLC purchased a new position in Elevance Health during the first quarter worth about $29,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Elevance Health in the 2nd quarter valued at $32,000. Glass Jacobson Investment Advisors llc lifted its stake in Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of Elevance Health in the second quarter valued at about $43,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Elevance Health stock opened at $348.44 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $77.44 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.52. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The business has a 50 day simple moving average of $333.96 and a 200 day simple moving average of $328.89.

Elevance Health (NYSE:ELV) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $8.37 EPS. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several analyst reports. The Goldman Sachs Group began coverage on shares of Elevance Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target for the company. Bank of America upped their price objective on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. UBS Group cut their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Truist Financial set a $400.00 price target on shares of Elevance Health in a research report on Tuesday, October 14th. Twelve analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $396.21.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.