Atlas Private Wealth Advisors Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Atlas Private Wealth Advisors cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,314 shares of the company’s stock after selling 94 shares during the quarter. Atlas Private Wealth Advisors’ holdings in Elevance Health were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. State Street Corp lifted its position in Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after buying an additional 129,709 shares in the last quarter. Geode Capital Management LLC lifted its position in Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after purchasing an additional 44,805 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 purchasing an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Elevance Health by 16.2% during 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 in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.0 %

NYSE ELV opened at $401.43 on Friday. The company has a market cap of $93.10 billion, a PE ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a 50 day moving average of $386.20 and a 200-day moving average of $463.21.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. On average, equities research analysts anticipate that Elevance Health, Inc. will post 32.95 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. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 23.77%.

Analysts Set New Price Targets

A number of research firms have weighed in on ELV. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday. Wells Fargo & Company lowered their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. 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 note on Wednesday. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $525.60.

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.