GSB Wealth Management LLC Has $328,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

GSB Wealth Management LLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.1% in the fourth quarter, HoldingsChannel reports. The fund owned 889 shares of the company’s stock after selling 58 shares during the period. GSB Wealth Management LLC’s holdings in Elevance Health were worth $328,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ELV. State Street Corp increased its holdings in Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after purchasing an additional 129,709 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after acquiring an additional 85,770 shares during the last quarter. Sanders Capital LLC raised its position in shares of Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after acquiring an additional 44,805 shares during the period. Wellington Management Group LLP boosted its stake in Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.0 %

NYSE:ELV opened at $401.43 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a market capitalization of $93.10 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $386.21 and its two-hundred day moving average price is $462.34.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Equities research analysts expect that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ELV. Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Finally, Morgan Stanley lowered their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $525.60.

About Elevance Health

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.