Atria Wealth Solutions Inc. Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Atria Wealth Solutions Inc. lowered its position in Elevance Health, Inc. (NYSE:ELV) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,031 shares of the company’s stock after selling 496 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Elevance Health were worth $1,856,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new position in Elevance Health in the third quarter worth approximately $26,000. Eastern Bank purchased a new position in Elevance Health in the third quarter worth approximately $31,000. Crews Bank & Trust purchased a new position in Elevance Health in the fourth quarter worth approximately $34,000. Dunhill Financial LLC lifted its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in Elevance Health in the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ELV shares. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays boosted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

Shares of NYSE ELV opened at $385.04 on Friday. The stock has a market cap of $89.30 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.18 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 moving average price is $385.25 and its 200 day moving average price is $443.77. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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 net margin of 3.38% and a return on equity of 18.28%. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid 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 dividend yield of 1.78%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

About Elevance Health

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.