Elevance Health, Inc. (NYSE:ELV) Shares Sold by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC reduced its position in Elevance Health, Inc. (NYSE:ELV) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,131 shares of the company’s stock after selling 64 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Elevance Health were worth $786,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ELV. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter valued at about $26,000. Crews Bank & Trust acquired a new position in Elevance Health in the 4th quarter valued at about $34,000. Dunhill Financial LLC grew its position in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Elevance Health in the 3rd quarter valued at about $44,000. Finally, Financial Perspectives Inc acquired a new position in Elevance Health in the 4th quarter valued at about $50,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

ELV stock opened at $395.63 on Tuesday. The business has a 50 day moving average price of $388.27 and a 200 day moving average price of $437.33. The stock has a market cap of $89.95 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week 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 issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.73%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ELV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Argus reissued a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Mizuho lowered their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Three 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.