Elevance Health, Inc. (NYSE:ELV) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,207 shares of the company’s stock after selling 628 shares during the quarter. 44 Wealth Management LLC’s holdings in Elevance Health were worth $814,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ELV. Callan Capital LLC raised its stake in shares of Elevance Health by 50.8% during the 4th quarter. Callan Capital LLC now owns 1,262 shares of the company’s stock worth $466,000 after buying an additional 425 shares during the last quarter. Oxbow Advisors LLC raised its stake in shares of Elevance Health by 11.0% during the 4th quarter. Oxbow Advisors LLC now owns 11,573 shares of the company’s stock worth $4,269,000 after buying an additional 1,147 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of Elevance Health by 9.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 489 shares of the company’s stock worth $180,000 after buying an additional 41 shares during the last quarter. Dahring Cusmano LLC acquired a new position in shares of Elevance Health during the 4th quarter worth $377,000. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of Elevance Health during the 4th quarter worth $458,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 1.4 %

ELV opened at $385.04 on Friday. 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 stock has a market capitalization of $89.30 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The business has a 50-day moving average of $385.25 and a two-hundred day moving average of $444.32. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts expect that Elevance Health, Inc. will post 34 earnings per share for the current year.

Elevance Health Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is presently 25.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Mizuho cut their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Stephens downgraded 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 research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.