Elevance Health, Inc. (NYSE:ELV) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 694 shares of the company’s stock after selling 118 shares during the period. First Affirmative Financial Network’s holdings in Elevance Health were worth $256,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter valued at about $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health during the 3rd quarter worth $27,000. Eastern Bank bought a new position in Elevance Health during the third quarter worth $31,000. Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in Elevance Health in the third quarter worth about $44,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Argus reissued a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday. Mizuho lowered their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Morgan Stanley cut their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

NYSE ELV opened at $399.36 on Friday. The company’s 50 day moving average is $386.71 and its 200-day moving average is $459.16. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a market cap of $92.62 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Sell-side analysts predict that Elevance Health, Inc. will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

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

Elevance Health 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.