Verus Financial Partners Inc. reduced its stake in Elevance Health, Inc. (NYSE:ELV – Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,666 shares of the company’s stock after selling 48 shares during the period. Verus Financial Partners Inc.’s holdings in Elevance Health were worth $635,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Austin Private Wealth LLC boosted its holdings in Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after acquiring an additional 29 shares during the period. Caprock Group LLC acquired a new position in shares of Elevance Health during the 4th quarter worth about $1,989,000. Granite Harbor Advisors Inc. boosted its holdings in Elevance Health by 5.7% in the fourth quarter. Granite Harbor Advisors Inc. now owns 4,198 shares of the company’s stock valued at $1,549,000 after purchasing an additional 227 shares in the last quarter. Mediolanum International Funds Ltd grew its position in shares of Elevance Health by 3.4% in the 4th quarter. Mediolanum International Funds Ltd now owns 8,608 shares of the company’s stock valued at $3,167,000 after buying an additional 280 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Elevance Health during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 89.24% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $517.03.
Elevance Health Price Performance
Shares of NYSE:ELV opened at $395.82 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The business’s fifty day moving average price is $386.50 and its two-hundred day moving average price is $457.81. The stock has a market cap of $91.80 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.
Elevance Health (NYSE:ELV – Get Free Report) last posted 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 return on equity of 18.28% and a net margin of 3.38%. On average, analysts forecast that Elevance Health, Inc. will post 34.09 EPS for the current fiscal year.
Elevance Health Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 represents a $6.84 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 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.
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