J. W. Coons Advisors LLC Decreases Holdings in Elevance Health, Inc. (NYSE:ELV)

J. W. Coons Advisors LLC reduced its position in Elevance Health, Inc. (NYSE:ELV) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,280 shares of the company’s stock after selling 200 shares during the period. J. W. Coons Advisors LLC’s holdings in Elevance Health were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Pathway Financial Advisers LLC boosted its position in Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after buying an additional 656,344 shares during the last quarter. Stifel Financial Corp boosted its position in Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after buying an additional 538,978 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after buying an additional 334,552 shares during the last quarter. Wellington Management Group LLP boosted its position in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after buying an additional 286,905 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new position in Elevance Health in the 3rd quarter valued at about $129,221,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $385.04 on Monday. The firm’s 50 day moving average is $385.25 and its two-hundred day moving average is $443.22. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market capitalization of $87.54 billion, a P/E ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed 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 of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Finally, Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus 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.