Toth Financial Advisory Corp cut its holdings in Elevance Health, Inc. (NYSE:ELV – Free Report) by 47.5% during the fourth quarter, HoldingsChannel reports. The firm owned 5,165 shares of the company’s stock after selling 4,670 shares during the period. Toth Financial Advisory Corp’s holdings in Elevance Health were worth $1,905,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Raelipskie Partnership purchased a new position in Elevance Health in the 3rd quarter valued at $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the 3rd quarter worth $27,000. Eastern Bank purchased a new stake in shares of Elevance Health in the third quarter valued at about $31,000. Dunhill Financial LLC increased its stake in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new position in Elevance Health during the third quarter worth about $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on ELV. Morgan Stanley lowered their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. TD Cowen dropped their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.
Elevance Health Price Performance
Shares of NYSE ELV opened at $401.43 on Friday. The company’s 50-day moving average price is $386.21 and its 200 day moving average price is $462.34. The stock has a market cap of $93.10 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.
Elevance Health (NYSE:ELV – Get Free Report) last announced its earnings results 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 19.56% and a net margin of 3.68%. As a group, research analysts forecast that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.
Elevance Health Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.
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.
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