Moors & Cabot Inc. Has $454,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Moors & Cabot Inc. decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 38.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,231 shares of the company’s stock after selling 767 shares during the period. Moors & Cabot Inc.’s holdings in Elevance Health were worth $454,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Dunhill Financial LLC raised 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 during the period. Tobam raised its holdings in Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after acquiring an additional 27 shares during the period. Jacobi Capital Management LLC raised its holdings in Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after acquiring an additional 27 shares during the period. Austin Private Wealth LLC boosted its holdings in Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after acquiring an additional 29 shares during the period. Finally, Quent Capital LLC grew its position in shares of Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on ELV shares. Argus restated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Finally, StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $517.03.

Insider Activity at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $421.72 on Friday. The firm has a market capitalization of $95.88 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.18 and a beta of 0.86. The stock has a fifty day moving average price of $395.45 and a two-hundred day moving average price of $429.65. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced 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 net margin of 3.38% and a return on equity of 18.28%. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal 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 given a dividend of $1.71 per share. 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. Elevance Health’s dividend payout ratio is 26.71%.

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.