Garrison Bradford & Associates Inc. Has $2.39 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Garrison Bradford & Associates Inc. cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 11.0% in the fourth quarter, HoldingsChannel reports. The fund owned 6,468 shares of the company’s stock after selling 799 shares during the quarter. Elevance Health accounts for 2.5% of Garrison Bradford & Associates Inc.’s portfolio, making the stock its 13th biggest holding. Garrison Bradford & Associates Inc.’s holdings in Elevance Health were worth $2,386,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ELV. Principal Financial Group Inc. boosted its position in Elevance Health by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 272,649 shares of the company’s stock worth $141,777,000 after acquiring an additional 11,646 shares during the period. Consolidated Planning Corp acquired a new stake in Elevance Health during the 3rd quarter worth about $444,000. TFB Advisors LLC lifted its holdings in shares of Elevance Health by 23.6% during the 3rd quarter. TFB Advisors LLC now owns 540 shares of the company’s stock valued at $281,000 after buying an additional 103 shares during the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of Elevance Health by 3.4% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,165 shares of the company’s stock valued at $3,206,000 after buying an additional 200 shares during the last quarter. Finally, Equitable Trust Co. lifted its holdings in shares of Elevance Health by 159.6% during the 3rd quarter. Equitable Trust Co. now owns 1,760 shares of the company’s stock valued at $915,000 after buying an additional 1,082 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 1.7 %

NYSE ELV opened at $409.59 on Friday. The stock has a 50-day simple moving average of $390.64 and a 200 day simple moving average of $434.13. The company has a market capitalization of $93.12 billion, a PE ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is 26.71%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Argus reissued a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

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.