Allworth Financial LP Purchases 1,370 Shares of Elevance Health, Inc. (NYSE:ELV)

Allworth Financial LP raised its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 103.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,688 shares of the company's stock after purchasing an additional 1,370 shares during the period. Allworth Financial LP's holdings in Elevance Health were worth $1,050,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ELV. Lifeworks Advisors LLC raised its position 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 valued at $539,000 after buying an additional 25 shares in the last quarter. Catalyst Financial Partners LLC increased its position in Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock worth $477,000 after purchasing an additional 26 shares in the last quarter. Fullcircle Wealth LLC increased its position in Elevance Health by 1.5% during 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 in the last quarter. Dunhill Financial LLC increased its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Finally, TCI Wealth Advisors Inc. increased its position in Elevance Health by 5.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company's stock worth $263,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Argus reaffirmed a "hold" rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Mizuho reduced their price objective on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Finally, Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Three 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. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus target price of $517.03.

Elevance Health Trading Down 0.8 %

NYSE:ELV traded down $2.94 during trading hours on Friday, hitting $387.57. The company had a trading volume of 920,863 shares, compared to its average volume of 1,595,696. The company has a market capitalization of $89.88 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The stock has a 50-day moving average price of $385.18 and a 200 day moving average price of $445.29. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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 research analysts predict that Elevance Health, Inc. will post 34 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. 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 dividend on an annualized basis and a yield of 1.76%. Elevance Health's payout ratio is presently 25.46%.

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.