Seneca House Advisors Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Seneca House Advisors cut its stake in Elevance Health, Inc. (NYSE:ELV) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,121 shares of the company’s stock after selling 49 shares during the period. Seneca House Advisors’ holdings in Elevance Health were worth $414,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ELV. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the 3rd quarter worth $26,000. PSI Advisors LLC purchased a new stake in Elevance Health in the third quarter valued at about $27,000. Eastern Bank acquired a new stake in Elevance Health in the third quarter worth about $31,000. Dunhill Financial LLC grew its stake in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in shares of Elevance Health during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ELV. Truist Financial lowered their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a report on Wednesday. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. Finally, Wells Fargo & Company reduced their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $524.87.

Elevance Health Trading Up 2.7 %

ELV stock opened at $401.20 on Friday. The business’s 50-day moving average is $386.32 and its 200 day moving average is $463.64. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market cap of $93.05 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.10 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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 return on equity of 19.56% and a net margin of 3.68%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

About Elevance Health

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.