Vantage Financial Partners LLC Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Vantage Financial Partners LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 45.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 649 shares of the company’s stock after selling 537 shares during the quarter. Vantage Financial Partners LLC’s holdings in Elevance Health were worth $239,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Lifeworks Advisors LLC increased its holdings in Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after buying an additional 25 shares in the last quarter. Dunhill Financial LLC increased its holdings in 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 buying an additional 26 shares in the last quarter. Catalina Capital Group LLC increased its stake in shares of Elevance Health by 1.7% during 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 in the last quarter. Tobam increased its stake in shares of Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its stake in shares of Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after purchasing an additional 27 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $397.68 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market capitalization of $90.41 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.18 and a beta of 0.83. The company’s 50-day moving average is $388.77 and its two-hundred day moving average is $436.31. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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%. Analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Analyst Ratings Changes

A number of analysts have recently commented on ELV shares. Barclays boosted their target price 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. Wells Fargo & Company cut 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. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.