Wilmington Savings Fund Society FSB Lowers Position in Elevance Health, Inc. (NYSE:ELV)

Wilmington Savings Fund Society FSB reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,713 shares of the company’s stock after selling 858 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Elevance Health were worth $1,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its stake in Elevance Health by 36.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 23,501 shares of the company’s stock valued at $8,670,000 after acquiring an additional 6,250 shares during the period. Unison Asset Management LLC boosted its stake in shares of Elevance Health by 6.4% during the 4th quarter. Unison Asset Management LLC now owns 25,557 shares of the company’s stock worth $9,428,000 after acquiring an additional 1,526 shares during the last quarter. Westbourne Investment Advisors Inc. grew its holdings in Elevance Health by 18.8% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 14,413 shares of the company’s stock valued at $5,317,000 after purchasing an additional 2,283 shares during the period. Vest Financial LLC raised its position in shares of Elevance Health by 75.0% during the 4th quarter. Vest Financial LLC now owns 90,613 shares of the company’s stock valued at $33,427,000 after purchasing an additional 38,834 shares during the period. Finally, Cidel Asset Management Inc. lifted its holdings in Elevance Health by 11.5% in the 4th quarter. Cidel Asset Management Inc. now owns 2,297 shares of the company’s stock worth $847,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.2 %

NYSE ELV opened at $391.23 on Monday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a market cap of $90.73 billion, a P/E ratio of 15.28, a P/E/G 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 has a fifty day moving average price of $385.87 and a 200 day moving average price of $453.37.

Elevance Health (NYSE:ELV) last announced 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 return on equity of 18.28% and a net margin of 3.38%. Research analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. TD Cowen dropped their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada reduced their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Finally, UBS Group dropped their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

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.