Elevance Health, Inc. (NYSE:ELV) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 82.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,176 shares of the company’s stock after selling 23,961 shares during the period. Foundations Investment Advisors LLC’s holdings in Elevance Health were worth $1,909,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the third quarter worth $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter valued at $31,000. Dunhill Financial LLC lifted its holdings in shares of Elevance Health by 57.8% during 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. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health during the 3rd quarter worth $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 1.4 %

Shares of NYSE ELV opened at $405.67 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $386.42 and its two-hundred day moving average price is $460.49. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market capitalization of $94.08 billion, a P/E ratio of 14.79, a PEG ratio of 1.11 and a beta of 0.84.

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 19.56% and a net margin of 3.68%. On average, analysts anticipate that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. 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 1.69%. Elevance Health’s dividend payout ratio is 23.77%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Royal Bank of Canada decreased their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Truist Financial dropped their price objective 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. 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $524.47.

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.