Linden Thomas Advisory Services LLC Sells 72 Shares of Elevance Health, Inc. (NYSE:ELV)

Linden Thomas Advisory Services LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 4.5% 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 1,516 shares of the company’s stock after selling 72 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Elevance Health were worth $559,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Raelipskie Partnership bought a new stake in shares of Elevance Health in the third quarter valued at $26,000. PSI Advisors LLC purchased a new position in shares of Elevance Health in the third quarter valued at $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the third quarter valued at $31,000. Dunhill Financial LLC grew its position in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the third quarter valued at $44,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

ELV opened at $401.43 on Monday. The stock has a 50-day moving average price of $386.21 and a 200-day moving average price of $461.87. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $93.10 billion, a P/E ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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 predict that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. 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. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 23.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ELV. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday. UBS Group reduced their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Truist Financial reduced their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $525.60.

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.