Elevance Health, Inc. (NYSE:ELV) Shares Sold by Northern Financial Advisors Inc

Northern Financial Advisors Inc cut its stake in Elevance Health, Inc. (NYSE:ELV) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,323 shares of the company’s stock after selling 587 shares during the period. Northern Financial Advisors Inc’s holdings in Elevance Health were worth $488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its holdings in shares of Elevance Health by 1.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,852 shares of the company’s stock valued at $34,826,000 after buying an additional 1,292 shares during the period. Castellan Group lifted its holdings in Elevance Health by 10.7% in the fourth quarter. Castellan Group now owns 5,720 shares of the company’s stock valued at $2,110,000 after acquiring an additional 551 shares during the period. Howard Bailey Securities LLC boosted its position in shares of Elevance Health by 55.8% during the 4th quarter. Howard Bailey Securities LLC now owns 1,220 shares of the company’s stock worth $450,000 after purchasing an additional 437 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Elevance Health by 8.6% during the 4th quarter. Stanley Laman Group Ltd. now owns 8,208 shares of the company’s stock worth $3,028,000 after purchasing an additional 648 shares during the period. Finally, Consolidated Planning Corp increased its holdings 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. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ELV. TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Morgan Stanley decreased their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Argus reissued a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. UBS Group decreased their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, 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. Three 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Trading Up 1.6 %

Shares of NYSE ELV opened at $391.68 on Friday. The company has a market cap of $90.84 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The stock’s 50 day simple moving average is $384.96 and its 200 day simple moving average is $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. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

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 return on equity of 18.28% and a net margin of 3.38%. Equities research analysts expect that Elevance Health, Inc. will post 34.05 EPS for the current 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 given a $1.71 dividend. This is a boost 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 yield of 1.75%. Elevance Health’s dividend payout ratio 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.