Princeton Global Asset Management LLC reduced its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 95.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 277 shares of the company's stock after selling 6,110 shares during the quarter. Princeton Global Asset Management LLC's holdings in Elevance Health were worth $102,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JB Capital LLC boosted its holdings in Elevance Health by 597.2% during the fourth 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. Chicago Capital LLC boosted its stake in shares of Elevance Health by 7.2% during the 4th quarter. Chicago Capital LLC now owns 2,169 shares of the company's stock worth $800,000 after buying an additional 145 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new position in shares of Elevance Health in the 4th quarter valued at about $532,000. CENTRAL TRUST Co grew its holdings in shares of Elevance Health by 12.7% in the 4th quarter. CENTRAL TRUST Co now owns 1,726 shares of the company's stock valued at $637,000 after acquiring an additional 195 shares in the last quarter. Finally, Round Rock Advisors LLC raised its holdings in Elevance Health by 1.2% during the fourth quarter. Round Rock Advisors LLC now owns 7,298 shares of the company's stock worth $2,771,000 after acquiring an additional 89 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Elevance Health Stock Performance
Shares of Elevance Health stock traded up $0.15 during trading on Wednesday, reaching $402.13. The company's stock had a trading volume of 1,205,358 shares, compared to its average volume of 1,776,789. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The business's 50-day moving average price is $386.46 and its 200-day moving average price is $455.31. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market cap of $93.26 billion, a PE ratio of 15.70, a P/E/G ratio of 1.19 and a beta of 0.83.
Elevance Health (NYSE:ELV - Get Free Report) last announced its 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%. Equities analysts forecast that Elevance Health, Inc. will post 34.07 earnings per share for the current 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 given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health's dividend payout ratio is presently 25.46%.
Wall Street Analyst Weigh In
ELV has been the subject of a number of analyst reports. Morgan Stanley decreased 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. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Royal Bank of Canada lowered their price objective on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Finally, Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $517.03.
View Our Latest Stock Report on ELV
Elevance Health Company Profile
(
Free Report)
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.
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