Silver Oak Securities Incorporated Sells 153 Shares of Elevance Health, Inc. (NYSE:ELV)

Silver Oak Securities Incorporated lowered its position in Elevance Health, Inc. (NYSE:ELV) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,808 shares of the company’s stock after selling 153 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Elevance Health were worth $667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atomi Financial Group Inc. lifted its stake in Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after acquiring an additional 25 shares during the period. Brookstone Capital Management increased its holdings in Elevance Health by 7.5% during the third quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock valued at $728,000 after buying an additional 97 shares during the period. Daymark Wealth Partners LLC raised its stake in Elevance Health by 1.4% in the third quarter. Daymark Wealth Partners LLC now owns 2,150 shares of the company’s stock worth $1,118,000 after buying an additional 30 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Elevance Health by 46.2% during the third quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock worth $49,000 after buying an additional 30 shares during the period. Finally, Wedmont Private Capital boosted its position in Elevance Health by 12.7% during the 3rd quarter. Wedmont Private Capital now owns 2,348 shares of the company’s stock valued at $1,155,000 after acquiring an additional 265 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on ELV shares. Royal Bank of Canada reduced their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Three 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Up 0.2 %

Shares of NYSE:ELV opened at $391.23 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market cap of $90.73 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.19 and a beta of 0.83. The business has a 50-day moving average price of $386.20 and a 200-day moving average price of $454.49.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 net margin of 3.38% and a return on equity of 18.28%. Equities analysts predict that Elevance Health, Inc. will post 34.07 EPS for the current year.

Elevance Health Increases Dividend

The business 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. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.75%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

Elevance Health Company 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.