Pathway Financial Advisers LLC Sells 656,323 Shares of Elevance Health, Inc. (NYSE:ELV)

Pathway Financial Advisers LLC lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 99.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,284 shares of the company's stock after selling 656,323 shares during the quarter. Pathway Financial Advisers LLC's holdings in Elevance Health were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Castellan Group lifted its stake in Elevance Health by 10.7% in the 4th quarter. Castellan Group now owns 5,720 shares of the company's stock valued at $2,110,000 after purchasing an additional 551 shares during the last quarter. Howard Bailey Securities LLC lifted its holdings in Elevance Health by 55.8% during the 4th quarter. Howard Bailey Securities LLC now owns 1,220 shares of the company's stock valued at $450,000 after purchasing an additional 437 shares during the last quarter. Stanley Laman Group Ltd. boosted its position in Elevance Health by 8.6% during the fourth quarter. Stanley Laman Group Ltd. now owns 8,208 shares of the company's stock worth $3,028,000 after purchasing an additional 648 shares during the period. Consolidated Planning Corp raised its position in shares of Elevance Health by 9.1% in the fourth quarter. Consolidated Planning Corp now owns 931 shares of the company's stock valued at $343,000 after buying an additional 78 shares in the last quarter. Finally, Naples Global Advisors LLC grew its position in Elevance Health by 38.1% during the fourth quarter. Naples Global Advisors LLC now owns 1,740 shares of the company's stock worth $642,000 after buying an additional 480 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ELV. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Truist Financial lowered their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Argus reiterated a "hold" rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. 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 company. Based on data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and a consensus target price of $517.03.

Elevance Health Trading Down 0.5 %

Shares of Elevance Health stock traded down $2.02 during trading on Monday, hitting $389.58. The company's stock had a trading volume of 1,202,248 shares, compared to its average volume of 1,761,671. The stock 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. 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, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The stock has a 50-day moving average price of $385.08 and a two-hundred day moving average price of $448.13.

Elevance Health (NYSE:ELV - Get Free Report) last announced its 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 return on equity of 18.28% and a net margin of 3.38%. Equities research analysts anticipate that Elevance Health, Inc. will post 34.05 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. Stockholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.76%. 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.