Elevance Health, Inc. (NYSE:ELV) Shares Sold by Advisory Alpha LLC

Advisory Alpha LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 4.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 955 shares of the company’s stock after selling 47 shares during the period. Advisory Alpha LLC’s holdings in Elevance Health were worth $352,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ELV. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter valued at $26,000. PSI Advisors LLC acquired a new position in Elevance Health during the 3rd quarter worth $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter worth $31,000. Dunhill Financial LLC grew its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in Elevance Health during the 3rd quarter worth $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV stock opened at $401.20 on Friday. The stock has a market capitalization of $93.05 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.10 and a beta of 0.84. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock’s 50-day moving average price is $386.32 and its 200 day moving average price is $463.64. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, equities research analysts forecast that Elevance Health, Inc. will post 32.96 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. Shareholders 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. This represents a $6.84 annualized dividend and a yield of 1.70%. Elevance Health’s payout ratio is presently 23.77%.

Analyst Ratings Changes

Several research analysts recently commented on ELV shares. Morgan Stanley lowered their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company decreased their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada decreased their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $524.87.

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.