Keudell Morrison Wealth Management Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Keudell Morrison Wealth Management decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,111 shares of the company’s stock after selling 184 shares during the period. Keudell Morrison Wealth Management’s holdings in Elevance Health were worth $1,885,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Granite Harbor Advisors Inc. boosted its holdings in Elevance Health by 5.7% in the 4th quarter. Granite Harbor Advisors Inc. now owns 4,198 shares of the company’s stock valued at $1,549,000 after purchasing an additional 227 shares during the period. Mediolanum International Funds Ltd raised its position in shares of Elevance Health by 3.4% in the fourth quarter. Mediolanum International Funds Ltd now owns 8,608 shares of the company’s stock worth $3,167,000 after buying an additional 280 shares in the last quarter. Crews Bank & Trust bought a new stake in Elevance Health during the fourth quarter valued at $34,000. Palmer Knight Co grew its position in Elevance Health by 2.0% during the fourth quarter. Palmer Knight Co now owns 10,717 shares of the company’s stock worth $3,954,000 after buying an additional 213 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE increased its stake in Elevance Health by 15.8% in the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company’s stock worth $11,837,000 after acquiring an additional 4,372 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.2 %

Shares of NYSE ELV opened at $399.36 on Friday. The firm’s fifty day moving average is $386.63 and its 200 day moving average is $458.75. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. 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 company has a market cap of $92.62 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.20 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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%. On average, equities research analysts expect that Elevance Health, Inc. will post 34.09 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.71%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 25.46%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ELV. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. UBS Group cut 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 note on Friday, October 18th. Argus restated a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.