Elevance Health, Inc. (NYSE:ELV) Shares Sold by Compass Wealth Management LLC

Compass Wealth Management LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,468 shares of the company’s stock after selling 50 shares during the quarter. Compass Wealth Management LLC’s holdings in Elevance Health were worth $542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Public Sector Pension Investment Board increased its holdings in shares of Elevance Health by 71.1% during the second quarter. Public Sector Pension Investment Board now owns 8,932 shares of the company’s stock valued at $4,840,000 after acquiring an additional 3,711 shares in the last quarter. Fred Alger Management LLC acquired a new position in Elevance Health during the 2nd quarter valued at approximately $6,833,000. Daymark Wealth Partners LLC raised its holdings in shares of Elevance Health by 3.1% in the second quarter. Daymark Wealth Partners LLC now owns 2,120 shares of the company’s stock worth $1,149,000 after buying an additional 64 shares during the last quarter. MBB Public Markets I LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at $8,987,000. Finally, Mackenzie Financial Corp raised its stake in Elevance Health by 1.1% in the 2nd quarter. Mackenzie Financial Corp now owns 73,964 shares of the company’s stock worth $40,078,000 after acquiring an additional 773 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ELV. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. 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. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $525.60.

Elevance Health Stock Performance

ELV opened at $401.43 on Friday. The firm’s fifty day simple moving average is $386.21 and its two-hundred day simple moving average is $462.34. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company 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 quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) 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%. Equities analysts anticipate that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed 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 represents a $6.84 dividend on an annualized basis and a yield of 1.70%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.