Bigelow Investment Advisors LLC Sells 125 Shares of Elevance Health, Inc. (NYSE:ELV)

Bigelow Investment Advisors LLC decreased its position in Elevance Health, Inc. (NYSE:ELV) by 17.1% during the 4th quarter, Holdings Channel reports. The firm owned 608 shares of the company’s stock after selling 125 shares during the period. Bigelow Investment Advisors LLC’s holdings in Elevance Health were worth $224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Timber Creek Capital Management LLC grew its holdings in shares of Elevance Health by 17.7% in the fourth quarter. Timber Creek Capital Management LLC now owns 7,350 shares of the company’s stock worth $2,711,000 after purchasing an additional 1,107 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in shares of Elevance Health in the fourth quarter worth approximately $89,000. Valley Wealth Managers Inc. boosted its holdings in Elevance Health by 7.6% in the fourth quarter. Valley Wealth Managers Inc. now owns 40,349 shares of the company’s stock valued at $14,885,000 after acquiring an additional 2,846 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Elevance Health by 20.4% in the fourth quarter. CIBC Asset Management Inc now owns 40,935 shares of the company’s stock valued at $15,101,000 after acquiring an additional 6,923 shares in the last quarter. Finally, Evergreen Wealth Management LLC boosted its holdings in Elevance Health by 82.0% in the fourth quarter. Evergreen Wealth Management LLC now owns 9,741 shares of the company’s stock valued at $3,593,000 after acquiring an additional 4,388 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV opened at $391.86 on Thursday. The stock has a 50-day moving average price of $384.93 and a 200-day moving average price of $445.67. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market cap of $90.88 billion, a PE ratio of 15.30, a P/E/G ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts predict that Elevance Health, Inc. will post 34 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. Shareholders of record on Monday, March 10th will be given 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 dividend on an annualized basis and a yield of 1.75%. Elevance Health’s payout ratio is 25.46%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELV. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Argus reiterated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Company 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.