Heritage Wealth Management Inc. Sells 207 Shares of Elevance Health, Inc. (NYSE:ELV)

Heritage Wealth Management Inc. lessened its position in Elevance Health, Inc. (NYSE:ELV) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,760 shares of the company’s stock after selling 207 shares during the quarter. Heritage Wealth Management Inc.’s holdings in Elevance Health were worth $649,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ELV. HM Payson & Co. raised its holdings in Elevance Health by 16.1% in the 3rd quarter. HM Payson & Co. now owns 730 shares of the company’s stock worth $380,000 after acquiring an additional 101 shares during the period. Stephens Inc. AR raised its holdings in Elevance Health by 3.8% in the 3rd quarter. Stephens Inc. AR now owns 20,878 shares of the company’s stock worth $10,856,000 after acquiring an additional 756 shares during the period. Roanoke Asset Management Corp NY bought a new position in Elevance Health in the 3rd quarter worth $228,000. Farther Finance Advisors LLC raised its holdings in Elevance Health by 26.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,523 shares of the company’s stock worth $792,000 after acquiring an additional 317 shares during the period. Finally, Fullcircle Wealth LLC grew its position in Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $397.09 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a fifty day simple moving average of $387.78 and a 200 day simple moving average of $439.07. The stock has a market capitalization of $90.28 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.18 and a beta of 0.83. 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 (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS 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%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.72%. Elevance Health’s dividend payout ratio is presently 26.71%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Finally, Truist Financial decreased their target price 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 research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $517.03.

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.