Fidelis Capital Partners LLC Lowers Stock Position in Elevance Health, Inc. (NYSE:ELV)

Fidelis Capital Partners LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 59.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,626 shares of the company’s stock after selling 2,425 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Elevance Health were worth $659,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lifeworks Advisors LLC boosted its stake in shares of Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after buying an additional 25 shares during the last quarter. Dunhill Financial LLC boosted its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Catalina Capital Group LLC boosted its position in Elevance Health by 1.7% in the third quarter. Catalina Capital Group LLC now owns 1,656 shares of the company’s stock worth $861,000 after purchasing an additional 27 shares during the last quarter. Tobam increased its position in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its position in shares of Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 0.3 %

ELV stock opened at $395.63 on Tuesday. The stock has a 50-day simple moving average of $388.27 and a two-hundred day simple moving average of $437.33. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a market capitalization of $89.95 billion, a PE ratio of 15.45, a PEG ratio of 1.18 and a beta of 0.83. 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 posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS 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 given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ELV. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays raised their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Three research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.