Elevance Health, Inc. (NYSE:ELV) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,359 shares of the company’s stock after selling 31 shares during the quarter. Cigna Investments Inc. New’s holdings in Elevance Health were worth $870,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth about $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter worth about $31,000. Dunhill Financial LLC raised its holdings in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health during the 3rd quarter worth about $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 1.3 %

ELV opened at $396.34 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm’s fifty day moving average price is $385.87 and its two-hundred day moving average price is $452.95. The company has a market capitalization of $91.92 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.73%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ELV shares. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Royal Bank of Canada dropped their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. Mizuho dropped their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target 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.