KFG Wealth Management LLC Has $359,000 Stake in Elevance Health, Inc. (NYSE:ELV)

KFG Wealth Management LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 972 shares of the company’s stock after selling 30 shares during the quarter. KFG Wealth Management LLC’s holdings in Elevance Health were worth $359,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter worth $26,000. PSI Advisors LLC purchased a new position in Elevance Health during the 3rd quarter worth $27,000. Eastern Bank bought a new stake in shares of Elevance Health in the 3rd quarter worth $31,000. Dunhill Financial LLC raised its holdings in shares of Elevance Health by 57.8% in the third 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 last quarter. Finally, Peterson Financial Group Inc. bought a new position in shares of Elevance Health during the third quarter valued at about $44,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Truist Financial reduced 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 report on Monday, January 6th. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a report on Wednesday. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $401.43 on Friday. The company has a 50-day moving average price of $386.21 and a two-hundred day moving average price of $462.34. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. 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 firm has a market capitalization of $93.10 billion, a PE ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Equities analysts forecast that Elevance Health, Inc. will post 32.95 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.70%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

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.