Country Club Bank Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

Country Club Bank decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 839 shares of the company’s stock after selling 235 shares during the quarter. Country Club Bank’s holdings in Elevance Health were worth $309,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Raelipskie Partnership bought a new position in shares of Elevance Health during the third quarter worth about $26,000. PSI Advisors LLC bought a new position in Elevance Health during the 3rd quarter worth $27,000. Eastern Bank bought a new position in shares of Elevance Health during the third quarter worth about $31,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC increased its position in 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 acquiring an additional 26 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.0 %

ELV stock opened at $402.13 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a 50-day moving average of $386.46 and a two-hundred day moving average of $455.31. The stock has a market capitalization of $93.26 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.19 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 quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS 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%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 34.07 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced 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 positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is 25.46%.

Analysts Set New Price Targets

ELV has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday. TD Cowen decreased their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Morgan Stanley lowered their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Three equities research 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 stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target 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.