HFG Advisors Inc. Trims Position in Elevance Health, Inc. (NYSE:ELV)

HFG Advisors Inc. cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 29.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 644 shares of the company’s stock after selling 263 shares during the quarter. HFG Advisors Inc.’s holdings in Elevance Health were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Raelipskie Partnership purchased a new position in shares of Elevance Health during the 3rd quarter valued at approximately $26,000. PSI Advisors LLC purchased a new position in shares of Elevance Health during the 3rd quarter valued at approximately $27,000. Eastern Bank purchased a new position in shares of Elevance Health during the 3rd quarter valued at approximately $31,000. Crews Bank & Trust purchased a new position in shares of Elevance Health during the 4th quarter valued at approximately $34,000. Finally, Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% during 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 in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.9 %

Shares of ELV opened at $395.82 on Monday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average is $386.50 and its two-hundred day moving average is $456.70. The stock has a market cap of $91.80 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that Elevance Health, Inc. will post 34.07 earnings per share 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. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.73%. Elevance Health’s payout ratio is presently 25.46%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent research reports. Royal Bank of Canada cut their target price 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. Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

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.