Elevance Health, Inc. (NYSE:ELV) Stake Reduced by Strategic Advisors LLC

Strategic Advisors LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 933 shares of the company’s stock after selling 67 shares during the quarter. Strategic Advisors LLC’s holdings in Elevance Health were worth $344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Keystone Financial Services grew its stake in Elevance Health by 2.4% during the 4th quarter. Keystone Financial Services now owns 1,436 shares of the company’s stock valued at $530,000 after acquiring an additional 33 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in Elevance Health by 4.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 1,383 shares of the company’s stock worth $510,000 after purchasing an additional 58 shares during the period. Palouse Capital Management Inc. acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $1,501,000. Allworth Financial LP lifted its holdings in shares of Elevance Health by 103.9% during the fourth quarter. Allworth Financial LP now owns 2,688 shares of the company’s stock worth $1,050,000 after buying an additional 1,370 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $21,232,000. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ELV shares. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Finally, TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

Shares of ELV stock opened at $389.58 on Tuesday. The stock’s fifty day moving average is $385.08 and its 200-day moving average is $448.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $90.35 billion, a PE ratio of 15.21, a PEG ratio of 1.17 and a beta of 0.83. 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 earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts expect that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company 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 is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.76%. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

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.