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

Foundations Investment Advisors LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 82.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,176 shares of the company’s stock after selling 23,961 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Elevance Health were worth $1,909,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ELV. State Street Corp boosted its position in Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after acquiring an additional 129,709 shares during the period. Geode Capital Management LLC lifted its holdings in Elevance Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after purchasing an additional 85,770 shares during the period. Sanders Capital LLC lifted its holdings in Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP grew its position in Elevance Health by 6.9% in 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 in the last quarter. Finally, 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. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. 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 research note on Friday, October 18th. Mizuho dropped their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $524.47.

Elevance Health Stock Down 1.4 %

ELV stock opened at $405.67 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $94.08 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.11 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 company’s 50 day simple moving average is $386.42 and its 200-day simple moving average is $460.49.

Elevance Health (NYSE:ELV) last announced its 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 net margin of 3.68% and a return on equity of 19.56%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 32.95 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. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.69%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.