Atlas Private Wealth Advisors Has $485,000 Position in Elevance Health, Inc. (NYSE:ELV)

Atlas Private Wealth Advisors reduced its position in Elevance Health, Inc. (NYSE:ELV) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,314 shares of the company’s stock after selling 94 shares during the quarter. Atlas Private Wealth Advisors’ holdings in Elevance Health were worth $485,000 at the end of the most recent quarter.

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

Elevance Health Stock Performance

NYSE:ELV opened at $401.43 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization 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’s 50-day moving average is $386.20 and its two-hundred day moving average is $463.21. 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 earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Analysts forecast that Elevance Health, Inc. will post 32.95 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 23.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Cowen reduced their price objective 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. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Mizuho dropped their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.

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.