Elevance Health, Inc. (NYSE:ELV) Shares Sold by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 9.5% during the 4th quarter, HoldingsChannel reports. The firm owned 4,113 shares of the company’s stock after selling 434 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Elevance Health were worth $1,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after purchasing an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the last quarter. Wellington Management Group LLP raised its stake in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after buying an additional 286,905 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Elevance Health during the third quarter worth approximately $129,221,000. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Elevance Health by 49,164.4% in the 4th quarter. Proficio Capital Partners LLC now owns 231,050 shares of the company’s stock valued at $85,234,000 after buying an additional 230,581 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 1.9 %

ELV stock opened at $393.42 on Friday. 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 business has a 50 day moving average price of $387.15 and a two-hundred day moving average price of $440.60. The company has a market cap of $89.45 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. Analysts anticipate that Elevance Health, Inc. will post 33.96 EPS 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. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. 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 annualized dividend and a dividend yield of 1.74%. Elevance Health’s dividend payout ratio is presently 26.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Mizuho reduced their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.