Elevance Health, Inc. (NYSE:ELV) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. cut its position in Elevance Health, Inc. (NYSE:ELV) by 8.9% during the fourth quarter, Holdings Channel reports. The firm owned 13,288 shares of the company’s stock after selling 1,300 shares during the period. GHP Investment Advisors Inc.’s holdings in Elevance Health were worth $4,902,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Atomi Financial Group Inc. raised its position in Elevance Health by 4.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after buying an additional 25 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Elevance Health by 7.5% in the 3rd quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock valued at $728,000 after acquiring an additional 97 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of Elevance Health by 1.4% in the third quarter. Daymark Wealth Partners LLC now owns 2,150 shares of the company’s stock worth $1,118,000 after acquiring an additional 30 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Elevance Health by 46.2% during the third quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock worth $49,000 after purchasing an additional 30 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in Elevance Health by 12.7% during the third quarter. Wedmont Private Capital now owns 2,348 shares of the company’s stock valued at $1,155,000 after purchasing an additional 265 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 3.0 %

ELV stock opened at $389.94 on Friday. 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 has a 50-day simple moving average of $386.45 and a 200-day simple moving average of $454.94. The stock has a market capitalization of $90.44 billion, a P/E ratio of 15.23, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts forecast that Elevance Health, Inc. will post 34.07 earnings per share for the current fiscal 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 issued a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. Elevance Health’s dividend payout ratio is presently 26.71%.

Analyst Ratings Changes

ELV has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Morgan Stanley dropped their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. UBS Group decreased their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. Finally, Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.