Compass Wealth Management LLC Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Compass Wealth Management LLC reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,468 shares of the company’s stock after selling 50 shares during the quarter. Compass Wealth Management LLC’s holdings in Elevance Health were worth $542,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ELV. Raelipskie Partnership acquired a new position in Elevance Health during the third quarter worth $26,000. PSI Advisors LLC acquired a new position in Elevance Health during the 3rd quarter worth about $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter worth about $31,000. Dunhill Financial LLC grew its position in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health during the third quarter worth about $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $401.43 on Friday. The company has a fifty day moving average of $386.21 and a two-hundred day moving average of $462.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a market capitalization of $93.10 billion, a PE ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS 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%. As a group, analysts expect that Elevance Health, Inc. will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Analyst Ratings Changes

ELV has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. UBS Group dropped 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. Wells Fargo & Company reduced their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a research note on Wednesday. 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 company’s stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $525.60.

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.