Elevance Health, Inc. (NYSE:ELV) Shares Sold by Sigma Planning Corp

Sigma Planning Corp trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 42.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,120 shares of the company’s stock after selling 830 shares during the period. Sigma Planning Corp’s holdings in Elevance Health were worth $488,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ELV. Roundview Capital LLC raised its position in Elevance Health by 2.9% during the first quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock valued at $912,000 after buying an additional 52 shares during the period. Moors & Cabot Inc. acquired a new position in Elevance Health in the 1st quarter worth about $251,000. Baird Financial Group Inc. increased its position in Elevance Health by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock worth $7,305,000 after purchasing an additional 57 shares during the last quarter. Zions Bancorporation N.A. increased its position in Elevance Health by 52.1% in the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock worth $439,000 after purchasing an additional 306 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Elevance Health by 102.9% in the 1st quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock worth $416,000 after purchasing an additional 429 shares during the last quarter. 87.80% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $495.12 on Friday. The business has a 50 day moving average price of $476.77 and a 200 day moving average price of $463.78. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $501.78. The company has a market cap of $116.35 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.11 and a beta of 0.78. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELVGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating the consensus estimate of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.23 EPS. Research analysts predict that Elevance Health, Inc. will post 37.14 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be issued a $1.63 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, March 7th. This represents a $6.52 annualized dividend and a yield of 1.32%. Elevance Health’s dividend payout ratio is 23.52%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ELV. JPMorgan Chase & Co. dropped their target price on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $547.00 price target on shares of Elevance Health in a research note on Friday. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Morgan Stanley upped their price target on Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Finally, Royal Bank of Canada upped their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $564.60.

Read Our Latest Stock Analysis on Elevance Health

About Elevance Health

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

Further Reading

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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