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

Spire Wealth Management reduced its position in Elevance Health, Inc. (NYSE:ELV) by 33.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 453 shares of the company’s stock after selling 229 shares during the quarter. Spire Wealth Management’s holdings in Elevance Health were worth $167,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter valued at about $26,000. PSI Advisors LLC acquired a new position in Elevance Health in the 3rd quarter valued at about $27,000. Eastern Bank acquired a new position in Elevance Health in the 3rd quarter valued at about $31,000. Crews Bank & Trust acquired a new position in Elevance Health in the 4th quarter valued at about $34,000. Finally, Dunhill Financial LLC grew its position in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE ELV opened at $391.23 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a 50 day moving average of $386.20 and a two-hundred day moving average of $454.49. The stock has a market cap of $90.73 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.19 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued 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 return on equity of 18.28% and a net margin of 3.38%. On average, research analysts forecast that Elevance Health, Inc. will post 34.07 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 25.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial lowered their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada lowered 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, UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

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.