Asset Dedication LLC Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Asset Dedication LLC lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 33.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,919 shares of the company’s stock after selling 951 shares during the quarter. Asset Dedication LLC’s holdings in Elevance Health were worth $708,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Raelipskie Partnership bought a new position in Elevance Health during the third quarter valued at $26,000. PSI Advisors LLC bought a new stake in Elevance Health during the third quarter worth approximately $27,000. Eastern Bank purchased a new stake in Elevance Health during the third quarter valued at approximately $31,000. Dunhill Financial LLC lifted its stake in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the 3rd quarter worth approximately $44,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.2 %

Shares of ELV opened at $400.62 on Thursday. The stock’s 50-day moving average price is $386.65 and its 200-day moving average price is $459.57. 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 company has a market capitalization of $92.91 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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%. On average, sell-side analysts predict that Elevance Health, Inc. will post 32.95 EPS for the current year.

Elevance Health Increases Dividend

The business 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 $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is presently 26.71%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Monday. Barclays lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday. Royal Bank of Canada reduced their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned 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 a consensus target price of $517.03.

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.