Private Advisor Group LLC Sells 2,311 Shares of Elevance Health, Inc. (NYSE:ELV)

Private Advisor Group LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,502 shares of the company’s stock after selling 2,311 shares during the quarter. Private Advisor Group LLC’s holdings in Elevance Health were worth $3,505,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ELV. Raelipskie Partnership bought a new stake in shares of Elevance Health during the 3rd quarter worth $26,000. Eastern Bank purchased a new stake in Elevance Health during the third quarter valued at about $31,000. Crews Bank & Trust bought a new stake in Elevance Health during the fourth quarter worth about $34,000. Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in 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. bought a new position in shares of Elevance Health during the 3rd quarter valued at about $44,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $385.04 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm’s fifty day simple moving average is $385.25 and its 200 day simple moving average is $443.22. The stock has a market cap of $89.30 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ELV. Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company decreased their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.