James Investment Research Inc. Sells 4,479 Shares of Elevance Health, Inc. (NYSE:ELV)

James Investment Research Inc. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 67.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,124 shares of the company's stock after selling 4,479 shares during the period. James Investment Research Inc.'s holdings in Elevance Health were worth $784,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ELV. Raelipskie Partnership bought a new position in Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new position in Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank bought a new position in Elevance Health in the 3rd quarter worth approximately $31,000. Dunhill Financial LLC boosted its holdings in 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 buying an additional 26 shares during the period. Finally, Peterson Financial Group Inc. bought a new position in Elevance Health in the 3rd quarter worth approximately $44,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Mizuho cut their price objective on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Truist Financial cut their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. 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 research note on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Trading Down 0.2 %

NYSE:ELV traded down $0.98 during trading hours on Thursday, reaching $390.73. The company's stock had a trading volume of 1,324,897 shares, compared to its average volume of 1,618,045. The firm has a market capitalization of $90.62 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.15 and a beta of 0.83. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a 50-day simple moving average of $384.93 and a 200-day simple moving average of $445.67.

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

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a positive change 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 dividend yield of 1.75%. 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.