Elevance Health, Inc. (NYSE:ELV) Position Trimmed by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,944 shares of the company’s stock after selling 2,442 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Elevance Health were worth $6,251,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp grew its holdings in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after acquiring an additional 538,978 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the period. Wellington Management Group LLP increased its stake in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth about $129,221,000. Finally, Proficio Capital Partners LLC raised its holdings in Elevance Health by 49,164.4% during the 4th quarter. Proficio Capital Partners LLC now owns 231,050 shares of the company’s stock worth $85,234,000 after buying an additional 230,581 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.1 %

Shares of Elevance Health stock opened at $397.67 on Thursday. The firm has a market cap of $90.41 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.18 and a beta of 0.83. The stock has a 50-day simple moving average of $389.26 and a 200-day simple moving average of $436.03. 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 current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal 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 given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.72%. 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 dividend payout ratio is presently 26.71%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Three 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. Based on data from MarketBeat, the stock 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.