Fidelis Capital Partners LLC Sells 2,425 Shares of Elevance Health, Inc. (NYSE:ELV)

Fidelis Capital Partners LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 59.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,626 shares of the company’s stock after selling 2,425 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Elevance Health were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the 3rd quarter valued at $26,000. Crews Bank & Trust purchased a new stake in Elevance Health during the fourth quarter valued at about $34,000. Dunhill Financial LLC raised its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in Elevance Health during the third quarter worth about $44,000. Finally, Financial Perspectives Inc purchased a new position in shares of Elevance Health in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Elevance Health Stock Down 0.3 %

Shares of NYSE:ELV opened at $395.63 on Tuesday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. 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 stock’s 50-day moving average is $388.27 and its 200 day moving average is $437.33. The company 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 announced 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%. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. Elevance Health’s payout ratio is presently 26.71%.

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.