Lester Murray Antman dba SimplyRich Has $2.31 Million Position in Elevance Health, Inc. (NYSE:ELV)

Lester Murray Antman dba SimplyRich lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,249 shares of the company’s stock after selling 87 shares during the period. Elevance Health comprises about 0.7% of Lester Murray Antman dba SimplyRich’s holdings, making the stock its 29th biggest position. Lester Murray Antman dba SimplyRich’s holdings in Elevance Health were worth $2,305,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ELV. Raelipskie Partnership acquired a new position in shares of Elevance Health in the 3rd quarter valued at $26,000. PSI Advisors LLC bought a new stake in Elevance Health in the third quarter valued at about $27,000. Eastern Bank acquired a new position in Elevance Health in the third quarter worth about $31,000. Crews Bank & Trust bought a new position in Elevance Health during the fourth quarter worth about $34,000. Finally, Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% during 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 in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ELV. Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Down 1.3 %

Shares of ELV opened at $391.04 on Wednesday. The business’s fifty day moving average price is $385.59 and its two-hundred day moving average price is $452.12. The firm has a market capitalization of $90.69 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.17 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 has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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%. On average, analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The firm 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is 25.46%.

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.