Wealth Alliance Has $420,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Wealth Alliance trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 15.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,138 shares of the company’s stock after selling 212 shares during the period. Wealth Alliance’s holdings in Elevance Health were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

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

Elevance Health Price Performance

Elevance Health stock opened at $385.04 on Friday. The business’s 50-day simple moving average is $385.25 and its 200 day simple moving average is $444.32. The stock has a market cap of $89.30 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, research analysts anticipate that Elevance Health, Inc. will post 34 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health’s dividend payout ratio is presently 25.46%.

Analyst Ratings Changes

Several research analysts have issued reports on ELV shares. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Mizuho dropped their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Barclays increased their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $517.03.

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.