Valeo Financial Advisors LLC Sells 886 Shares of Elevance Health, Inc. (NYSE:ELV)

Valeo Financial Advisors LLC cut its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,087 shares of the company's stock after selling 886 shares during the period. Valeo Financial Advisors LLC's holdings in Elevance Health were worth $1,139,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Good Life Advisors LLC increased its stake in shares of Elevance Health by 11.2% in the third quarter. Good Life Advisors LLC now owns 625 shares of the company's stock valued at $325,000 after buying an additional 63 shares in the last quarter. Global Retirement Partners LLC increased its position in Elevance Health by 8.8% in the 3rd quarter. Global Retirement Partners LLC now owns 4,189 shares of the company's stock valued at $2,178,000 after acquiring an additional 338 shares in the last quarter. Stonegate Investment Group LLC bought a new position in shares of Elevance Health in the third quarter worth about $237,000. Aaron Wealth Advisors LLC lifted its position in shares of Elevance Health by 7.3% during the third quarter. Aaron Wealth Advisors LLC now owns 826 shares of the company's stock worth $430,000 after purchasing an additional 56 shares in the last quarter. Finally, Stratos Investment Management LLC grew its stake in shares of Elevance Health by 2.8% during the third quarter. Stratos Investment Management LLC now owns 1,379 shares of the company's stock valued at $717,000 after purchasing an additional 37 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 2.5 %

NYSE:ELV traded up $9.38 on Wednesday, reaching $391.86. The company's stock had a trading volume of 1,112,805 shares, compared to its average volume of 1,626,861. The firm has a market cap of $90.88 billion, a PE ratio of 15.30, a PEG ratio of 1.17 and a beta of 0.83. 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 business's 50-day moving average price is $384.81 and its two-hundred day moving average price is $446.05. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

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 (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 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. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is 25.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ELV shares. Wells Fargo & Company lowered their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Three 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 MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average target price of $517.03.

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.