Apollon Wealth Management LLC Sells 759 Shares of Elevance Health, Inc. (NYSE:ELV)

Apollon Wealth Management LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 21.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,715 shares of the company's stock after selling 759 shares during the period. Apollon Wealth Management LLC's holdings in Elevance Health were worth $1,002,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ELV. Exchange Traded Concepts LLC lifted its stake in shares of Elevance Health by 50.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company's stock valued at $1,024,000 after purchasing an additional 664 shares during the period. Sentry LLC lifted its stake in shares of Elevance Health by 0.9% in the 3rd quarter. Sentry LLC now owns 3,209 shares of the company's stock valued at $1,669,000 after purchasing an additional 30 shares during the period. SeaCrest Wealth Management LLC lifted its stake in shares of Elevance Health by 1.8% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,336 shares of the company's stock valued at $1,215,000 after purchasing an additional 41 shares during the period. Sumitomo Life Insurance Co. lifted its stake in shares of Elevance Health by 2.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 2,264 shares of the company's stock valued at $1,177,000 after purchasing an additional 61 shares during the period. Finally, Tamar Securities LLC lifted its stake in shares of Elevance Health by 14.0% in the 3rd quarter. Tamar Securities LLC now owns 31,372 shares of the company's stock valued at $16,314,000 after purchasing an additional 3,842 shares during the period. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, UBS Group cut their price target on Elevance Health from $605.00 to $555.00 and set a "buy" rating on the stock in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Stock Down 0.5 %

Shares of ELV stock traded down $2.02 during trading hours on Friday, reaching $389.58. The company had a trading volume of 1,202,248 shares, compared to its average volume of 1,761,671. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month 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. The business has a fifty day simple moving average of $385.08 and a 200-day simple moving average of $449.32. The company has a market cap of $90.35 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts expect that Elevance Health, Inc. will post 34.05 earnings per share 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. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is 25.46%.

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.