Addison Advisors LLC Sells 285 Shares of Elevance Health, Inc. (NYSE:ELV)

Addison Advisors LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 47.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 321 shares of the company’s stock after selling 285 shares during the quarter. Addison Advisors LLC’s holdings in Elevance Health were worth $118,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ELV. Raelipskie Partnership bought a new position in Elevance Health in the 3rd quarter worth approximately $26,000. Crews Bank & Trust purchased a new stake in shares of Elevance Health during the fourth quarter worth $34,000. Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in 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. Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the third quarter valued at $44,000. Finally, Financial Perspectives Inc purchased a new position in shares of Elevance Health in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $402.95 on Wednesday. The company has a market capitalization of $91.61 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.18 and a beta of 0.83. The business has a 50 day moving average of $386.22 and a 200 day moving average of $441.32. 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, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

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, topping 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, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed 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 is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis 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 26.71%.

Wall Street Analyst Weigh In

Several brokerages have commented on ELV. Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.