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

44 Wealth Management LLC decreased its position in Elevance Health, Inc. (NYSE:ELV) by 22.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new stake in Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC acquired a new stake in Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank purchased a new position in Elevance Health in the third quarter valued at approximately $31,000. Crews Bank & Trust purchased a new position in Elevance Health in the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC increased its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $385.04 on Friday. The firm’s fifty day moving average price is $385.25 and its 200 day moving average price is $444.32. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. 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 firm has a market cap 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.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. On average, sell-side analysts expect that Elevance Health, Inc. will post 34 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 issued a $1.71 dividend. 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%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 25.46%.

Analysts Set New Price Targets

Several equities analysts have commented on ELV shares. Wells Fargo & Company dropped their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Argus reiterated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.