Intelligence Driven Advisers LLC Sells 387 Shares of Elevance Health, Inc. (NYSE:ELV)

Intelligence Driven Advisers LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 32.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter worth about $26,000. PSI Advisors LLC bought a new stake in Elevance Health in the 3rd quarter valued at approximately $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter worth approximately $31,000. Crews Bank & Trust bought a new position in shares of Elevance Health during the 4th quarter worth approximately $34,000. Finally, Dunhill Financial LLC grew its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 1.5 %

Shares of 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 business has a 50 day moving average of $384.96 and a 200-day moving average of $450.70. 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 stock has a market cap 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 issued its quarterly earnings data 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%. As a group, equities research analysts forecast that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ELV shares. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Argus reissued a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Finally, UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.