Private Advisor Group LLC Sells 2,311 Shares of Elevance Health, Inc. (NYSE:ELV)

Private Advisor Group LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,502 shares of the company's stock after selling 2,311 shares during the quarter. Private Advisor Group LLC's holdings in Elevance Health were worth $3,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ELV. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter worth $26,000. Eastern Bank acquired a new position in Elevance Health in the 3rd quarter worth about $31,000. Dunhill Financial LLC raised its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health during the third quarter valued at about $44,000. Finally, Crews Bank & Trust bought a new stake in shares of Elevance Health during the fourth quarter worth about $34,000. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. StockNews.com lowered Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company lowered their price target 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. Finally, Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Stock Performance

Shares of ELV opened at $385.04 on Monday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week 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 stock has a 50 day moving average price of $385.25 and a two-hundred day moving average price of $443.22. The firm has a market capitalization of $89.30 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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 analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health's payout ratio is 25.46%.

About Elevance Health

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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