Elevance Health, Inc. (NYSE:ELV) Shares Sold by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. reduced its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 676 shares of the company's stock after selling 850 shares during the quarter. Buckingham Capital Management Inc.'s holdings in Elevance Health were worth $249,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Raelipskie Partnership acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $31,000. Dunhill Financial LLC lifted its holdings in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after acquiring an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health during the 3rd quarter worth approximately $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.4 %

Shares of NYSE ELV traded down $5.46 during mid-day trading on Friday, reaching $385.04. The company had a trading volume of 1,736,819 shares, compared to its average volume of 1,621,539. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a 50 day simple moving average of $385.25 and a two-hundred day simple moving average of $444.32. The stock has a market cap of $89.30 billion, a P/E ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted 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%. Sell-side analysts predict that Elevance Health, Inc. will post 34 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is presently 25.46%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research reports. Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Barclays increased their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently 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.