Atticus Wealth Management LLC Sells 109 Shares of Elevance Health, Inc. (NYSE:ELV)

Atticus Wealth Management LLC lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 31.2% in the 4th quarter, HoldingsChannel reports. The fund owned 240 shares of the company’s stock after selling 109 shares during the period. Atticus Wealth Management LLC’s holdings in Elevance Health were worth $88,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC acquired a new position in shares of Elevance Health in the 3rd quarter valued at $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter worth about $31,000. Dunhill Financial LLC grew its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the third quarter worth about $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.0 %

Shares of NYSE ELV opened at $401.43 on Monday. The stock has a fifty day simple moving average of $386.21 and a 200-day simple moving average of $461.87. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market capitalization of $93.10 billion, a PE 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 (NYSE:ELV) last announced 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 net margin of 3.68% and a return on equity of 19.56%. On average, equities analysts forecast that Elevance Health, Inc. will post 32.95 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. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ELV. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. TD Cowen lowered their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $525.60.

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.