Elevance Health, Inc. (NYSE:ELV) Stock Holdings Reduced by Choreo LLC

Choreo LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 31.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,994 shares of the company’s stock after selling 1,820 shares during the quarter. Choreo LLC’s holdings in Elevance Health were worth $1,473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Money Concepts Capital Corp boosted its stake in shares of Elevance Health by 9.0% during the 4th quarter. Money Concepts Capital Corp now owns 1,764 shares of the company’s stock worth $651,000 after acquiring an additional 146 shares in the last quarter. Tranquilli Financial Advisor LLC boosted its stake in shares of Elevance Health by 14.1% during the 4th quarter. Tranquilli Financial Advisor LLC now owns 1,387 shares of the company’s stock worth $512,000 after acquiring an additional 171 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of Elevance Health by 11.1% during the 4th quarter. E. Ohman J or Asset Management AB now owns 10,440 shares of the company’s stock worth $3,851,000 after acquiring an additional 1,040 shares in the last quarter. WESPAC Advisors SoCal LLC boosted its stake in shares of Elevance Health by 2.5% during the 4th quarter. WESPAC Advisors SoCal LLC now owns 2,544 shares of the company’s stock worth $938,000 after acquiring an additional 63 shares in the last quarter. Finally, Calamos Advisors LLC boosted its stake in shares of Elevance Health by 0.5% during the 4th quarter. Calamos Advisors LLC now owns 24,774 shares of the company’s stock worth $9,139,000 after acquiring an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.2 %

Shares of ELV opened at $391.23 on Friday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $386.20 and a 200-day simple moving average of $454.49. The stock has a market cap of $90.73 billion, a PE ratio of 15.28, a PEG ratio of 1.19 and a beta of 0.83.

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 analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts predict that Elevance Health, Inc. will post 34.07 EPS 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 issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. 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 1.75%. Elevance Health’s dividend payout ratio is presently 25.46%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Argus reiterated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Truist Financial cut their price objective 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. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Three investment 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. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average 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.