Fidelis Capital Partners LLC Sells 2,425 Shares of Elevance Health, Inc. (NYSE:ELV)

Fidelis Capital Partners LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 59.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,626 shares of the company's stock after selling 2,425 shares during the period. Fidelis Capital Partners LLC's holdings in Elevance Health were worth $659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mutual Advisors LLC lifted its position in Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after buying an additional 52 shares in the last quarter. Czech National Bank raised its holdings in shares of Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company's stock worth $18,551,000 after acquiring an additional 3,049 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock valued at $27,858,000 after purchasing an additional 50,603 shares during the last quarter. Diversified Trust Co grew its stake in Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company's stock valued at $8,328,000 after purchasing an additional 2,725 shares in the last quarter. Finally, JB Capital LLC increased its position in Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock worth $3,462,000 after purchasing an additional 8,038 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Elevance Health stock traded down $2.52 during mid-day trading on Thursday, hitting $394.96. 123,491 shares of the company's stock traded hands, compared to its average volume of 1,574,102. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market cap of $89.79 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.18 and a beta of 0.83. The firm has a 50 day simple moving average of $389.26 and a two-hundred day simple moving average of $436.03. 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 released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate 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 33.96 EPS for the current fiscal 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 issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.73%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is currently 26.71%.

Insider Activity

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ELV. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. 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 note on Tuesday, January 28th. Finally, Argus reiterated a "hold" rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Three 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 company. According to MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price 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.