Level Four Advisory Services LLC Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Level Four Advisory Services LLC lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 18.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,810 shares of the company's stock after selling 2,403 shares during the period. Level Four Advisory Services LLC's holdings in Elevance Health were worth $3,988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in Elevance Health by 3.8% during the third quarter. Fisher Asset Management LLC now owns 838 shares of the company's stock worth $436,000 after purchasing an additional 31 shares during the period. Townsquare Capital LLC boosted its holdings in Elevance Health by 6.3% during the 3rd quarter. Townsquare Capital LLC now owns 8,727 shares of the company's stock valued at $4,538,000 after acquiring an additional 517 shares during the period. Public Sector Pension Investment Board boosted its holdings in Elevance Health by 12.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company's stock valued at $5,217,000 after acquiring an additional 1,100 shares during the period. Financial Counselors Inc. increased its stake in Elevance Health by 2.7% during the third quarter. Financial Counselors Inc. now owns 1,953 shares of the company's stock worth $1,016,000 after purchasing an additional 51 shares during the period. Finally, Captrust Financial Advisors lifted its position in shares of Elevance Health by 0.7% during the third quarter. Captrust Financial Advisors now owns 38,974 shares of the company's stock worth $20,267,000 after purchasing an additional 286 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ELV. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Argus upgraded Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective on the stock in a research note on Monday, March 17th. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $519.81.

Elevance Health Stock Performance

ELV traded down $2.97 during trading on Wednesday, hitting $429.71. 394,479 shares of the stock were exchanged, compared to its average volume of 1,392,916. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a fifty day moving average price of $406.34 and a two-hundred day moving average price of $418.81. The firm has a market capitalization of $97.70 billion, a P/E ratio of 16.78, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. 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 1.59%. Elevance Health's dividend payout ratio is currently 26.71%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

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.