Elevance Health, Inc. (NYSE:ELV) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 17.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596 shares of the company’s stock after selling 125 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Elevance Health were worth $220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cypress Wealth Services LLC boosted its holdings in shares of Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares during the period. Atomi Financial Group Inc. raised its position in Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares during the last quarter. Lifeworks Advisors LLC boosted its stake in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC grew its position in Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after purchasing an additional 26 shares during the last quarter. Finally, Fullcircle Wealth LLC increased its stake in Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELV. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada dropped their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. TD Cowen dropped their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Three equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Trading Up 2.5 %

Shares of ELV stock opened at $405.54 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two 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 has a fifty day simple moving average of $386.50 and a 200-day simple moving average of $456.70. The stock has a market cap of $94.05 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.19 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its earnings results 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 net margin of 3.38% and a return on equity of 18.28%. On average, analysts forecast that Elevance Health, Inc. will post 34.07 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 25.46%.

About Elevance Health

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.