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

Valeo Financial Advisors LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 22.3% during the 4th quarter, HoldingsChannel reports. The firm owned 3,087 shares of the company’s stock after selling 886 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Elevance Health were worth $1,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mutual Advisors LLC increased its stake in shares of Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank increased its stake in shares of Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after purchasing an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in shares of Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after purchasing an additional 3,786 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after acquiring an additional 50,603 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. TD Cowen reduced their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Argus restated a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Down 0.5 %

Shares of NYSE:ELV opened at $389.58 on Friday. The company has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, 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 current ratio of 1.45 and a quick ratio of 1.50. The business’s 50-day moving average is $385.08 and its 200-day moving average is $449.32. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 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%. Equities research analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is presently 25.46%.

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.