Elevance Health, Inc. (NYSE:ELV) Shares Sold by Carr Financial Group Corp

Carr Financial Group Corp cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 14.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 846 shares of the company’s stock after selling 142 shares during the period. Carr Financial Group Corp’s holdings in Elevance Health were worth $312,000 as of its most recent SEC filing.

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

Elevance Health Stock Performance

Shares of ELV opened at $401.43 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a fifty day simple moving average of $386.20 and a 200 day simple moving average of $463.21. The stock has a market capitalization of $93.10 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

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 net margin of 3.68% and a return on equity of 19.56%. Research analysts forecast that Elevance Health, Inc. will post 32.95 EPS 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. Shareholders 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. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ELV shares. UBS Group decreased their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research note on Wednesday. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.

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.