Bigelow Investment Advisors LLC Sells 125 Shares of Elevance Health, Inc. (NYSE:ELV)

Bigelow Investment Advisors LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 608 shares of the company’s stock after selling 125 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Elevance Health were worth $224,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ELV. Sequoia Financial Advisors LLC boosted its position in Elevance Health by 5.3% during the third quarter. Sequoia Financial Advisors LLC now owns 6,665 shares of the company’s stock worth $3,466,000 after purchasing an additional 337 shares during the period. Eastern Bank bought a new position in Elevance Health during the third quarter worth about $31,000. Waldron Private Wealth LLC boosted its position in Elevance Health by 7.2% during the third quarter. Waldron Private Wealth LLC now owns 1,143 shares of the company’s stock worth $594,000 after purchasing an additional 77 shares during the period. GAM Holding AG boosted its position in Elevance Health by 0.8% during the third quarter. GAM Holding AG now owns 15,741 shares of the company’s stock worth $8,185,000 after purchasing an additional 121 shares during the period. Finally, Lecap Asset Management Ltd. bought a new position in Elevance Health during the third quarter worth about $2,008,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Mizuho lowered their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Up 2.5 %

Shares of ELV opened at $391.86 on Thursday. The company has a market capitalization of $90.88 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm’s 50 day simple moving average is $384.93 and its 200 day simple moving average is $445.67. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. Sell-side analysts forecast that Elevance Health, Inc. will post 34 earnings per share for the current fiscal 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 paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. 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 1.75%. Elevance Health’s dividend payout ratio (DPR) is 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.