Intelligence Driven Advisers LLC Has $292,000 Position in Elevance Health, Inc. (NYSE:ELV)

Intelligence Driven Advisers LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 32.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 792 shares of the company’s stock after selling 387 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Elevance Health were worth $292,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ELV. Castellan Group raised its holdings in shares of Elevance Health by 10.7% in the 4th quarter. Castellan Group now owns 5,720 shares of the company’s stock worth $2,110,000 after buying an additional 551 shares in the last quarter. Howard Bailey Securities LLC grew its position in Elevance Health by 55.8% in the fourth quarter. Howard Bailey Securities LLC now owns 1,220 shares of the company’s stock valued at $450,000 after acquiring an additional 437 shares during the period. Stanley Laman Group Ltd. lifted its holdings in shares of Elevance Health by 8.6% during the fourth quarter. Stanley Laman Group Ltd. now owns 8,208 shares of the company’s stock valued at $3,028,000 after acquiring an additional 648 shares during the period. Consolidated Planning Corp boosted its stake in shares of Elevance Health by 9.1% in the 4th quarter. Consolidated Planning Corp now owns 931 shares of the company’s stock valued at $343,000 after purchasing an additional 78 shares in the last quarter. Finally, Naples Global Advisors LLC increased its position in shares of Elevance Health by 38.1% during the 4th quarter. Naples Global Advisors LLC now owns 1,740 shares of the company’s stock worth $642,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Argus restated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Trading Down 1.5 %

NYSE ELV opened at $385.52 on Thursday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a 50-day simple moving average of $384.96 and a 200 day simple moving average of $450.70. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $89.41 billion, a PE ratio of 15.05, a P/E/G ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced its quarterly 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%. Research analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. 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 annualized dividend and a dividend yield of 1.77%. Elevance Health’s payout ratio 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.