Bleakley Financial Group LLC Sells 1,961 Shares of Elevance Health, Inc. (NYSE:ELV)

Bleakley Financial Group LLC lessened its position in Elevance Health, Inc. (NYSE:ELV) by 33.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,856 shares of the company’s stock after selling 1,961 shares during the period. Bleakley Financial Group LLC’s holdings in Elevance Health were worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Money Concepts Capital Corp increased its stake in shares of Elevance Health by 9.0% in the fourth quarter. Money Concepts Capital Corp now owns 1,764 shares of the company’s stock worth $651,000 after purchasing an additional 146 shares during the period. Tranquilli Financial Advisor LLC increased its position in Elevance Health by 14.1% in the 4th quarter. Tranquilli Financial Advisor LLC now owns 1,387 shares of the company’s stock worth $512,000 after buying an additional 171 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in shares of Elevance Health by 11.1% during the fourth quarter. E. Ohman J or Asset Management AB now owns 10,440 shares of the company’s stock worth $3,851,000 after buying an additional 1,040 shares during the last quarter. WESPAC Advisors SoCal LLC boosted its position in shares of Elevance Health by 2.5% in the fourth quarter. WESPAC Advisors SoCal LLC now owns 2,544 shares of the company’s stock valued at $938,000 after acquiring an additional 63 shares during the period. Finally, Calamos Advisors LLC grew its stake in shares of Elevance Health by 0.5% in the fourth quarter. Calamos Advisors LLC now owns 24,774 shares of the company’s stock worth $9,139,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 0.2 %

Shares of Elevance Health stock opened at $391.23 on Friday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market capitalization of $90.73 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The company has a 50-day simple moving average of $386.20 and a 200 day simple moving average of $454.49. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Elevance Health, Inc. will post 34.07 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm 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 $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. Elevance Health’s dividend payout ratio (DPR) is 25.46%.

Analyst Ratings Changes

Several equities analysts recently commented on ELV shares. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Mizuho reduced their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Three investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $517.03.

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.