Parkside Financial Bank & Trust Sells 89 Shares of Elevance Health, Inc. (NYSE:ELV)

Parkside Financial Bank & Trust lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 401 shares of the company’s stock after selling 89 shares during the period. Parkside Financial Bank & Trust’s holdings in Elevance Health were worth $148,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership bought a new position in shares of Elevance Health during the 3rd quarter valued at $26,000. Crews Bank & Trust bought a new position in shares of Elevance Health during the 4th quarter valued at $34,000. Dunhill Financial LLC grew its holdings in shares of 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. Peterson Financial Group Inc. bought a new stake in Elevance Health in the 3rd quarter worth $44,000. Finally, Financial Perspectives Inc bought a new stake in Elevance Health in the 4th quarter worth $50,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.1 %

Shares of Elevance Health stock opened at $397.09 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $90.28 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a 50-day simple moving average of $387.78 and a two-hundred day simple moving average of $439.07.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.72%. Elevance Health’s payout ratio is 26.71%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELV. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Barclays raised 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. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health 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.