Smartleaf Asset Management LLC Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Smartleaf Asset Management LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,131 shares of the company’s stock after selling 64 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Elevance Health were worth $786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC increased its holdings in Elevance Health by 57.8% in 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. Peterson Financial Group Inc. acquired a new position in Elevance Health in the 3rd quarter worth approximately $44,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $34,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.3 %

NYSE ELV opened at $395.63 on Tuesday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $388.27 and its 200-day simple moving average is $437.33. The firm has a market cap of $89.95 billion, a PE ratio of 15.45, a P/E/G ratio of 1.18 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, topping 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%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of analyst reports. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Argus reissued a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $517.03.

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.