Elevance Health, Inc. (NYSE:ELV) Shares Sold by Beacon Financial Group

Beacon Financial Group reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,429 shares of the company’s stock after selling 144 shares during the quarter. Beacon Financial Group’s holdings in Elevance Health were worth $527,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its stake in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares in the last quarter. Stifel Financial Corp lifted its holdings in Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after purchasing an additional 538,978 shares during the period. International Assets Investment Management LLC grew its position in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after buying an additional 334,552 shares during the period. Finally, Wellington Management Group LLP increased its stake in Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after buying an additional 286,905 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.5 %

ELV stock opened at $385.52 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 firm has a market capitalization of $89.41 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.17 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. The company’s 50 day simple moving average is $385.25 and its 200-day simple moving average is $451.16.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.77%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 25.46%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Barclays lifted their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. Finally, TD Cowen lowered their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. 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.