Montag A & Associates Inc. Sells 500 Shares of Elevance Health, Inc. (NYSE:ELV)

Montag A & Associates Inc. decreased its position in Elevance Health, Inc. (NYSE:ELV) by 69.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 222 shares of the company’s stock after selling 500 shares during the quarter. Montag A & Associates Inc.’s holdings in Elevance Health were worth $82,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new position in Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter worth $31,000. Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter valued at $34,000. Finally, Dunhill Financial LLC lifted its stake in shares of 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 purchasing an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

NYSE ELV opened at $389.58 on Tuesday. The company has a market cap of $90.35 billion, a P/E ratio of 15.21, a PEG ratio of 1.17 and a beta of 0.83. The company has a fifty day simple moving average of $385.08 and a 200 day simple moving average of $448.13. 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, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Elevance Health, Inc. will post 34.05 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 $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ELV shares. Argus reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Mizuho lowered their price target 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. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.