Verus Financial Partners Inc. Lowers Stock Position in Elevance Health, Inc. (NYSE:ELV)

Verus Financial Partners Inc. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,666 shares of the company’s stock after selling 48 shares during the quarter. Verus Financial Partners Inc.’s holdings in Elevance Health were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Raelipskie Partnership purchased a new stake in Elevance Health during the 3rd quarter worth $26,000. PSI Advisors LLC acquired a new position in shares of Elevance Health during the third quarter worth about $27,000. Eastern Bank purchased a new stake in shares of Elevance Health in the third quarter worth about $31,000. Dunhill Financial LLC boosted its position in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health in the third quarter valued at about $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Royal Bank of Canada lowered their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Argus reissued a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday. Finally, Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Down 0.9 %

ELV stock opened at $395.82 on Friday. The firm has a market cap of $91.80 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.20 and a beta of 0.84. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm has a fifty day moving average price of $386.50 and a two-hundred day moving average price of $457.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Research analysts predict that Elevance Health, Inc. will post 34.09 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio 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.