DGS Capital Management LLC Cuts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

DGS Capital Management LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 27.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,683 shares of the company’s stock after selling 633 shares during the period. DGS Capital Management LLC’s holdings in Elevance Health were worth $621,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ELV. Raelipskie Partnership purchased a new position in Elevance Health in the third quarter worth $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter worth $27,000. Eastern Bank bought a new stake in shares of Elevance Health during the third quarter valued at about $31,000. Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health in the third quarter valued at approximately $44,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $401.43 on Friday. The stock has a market cap of $93.10 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a fifty day moving average price of $386.21 and a 200-day moving average price 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 (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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%. Equities analysts anticipate that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business 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 dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. 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 report on Monday, November 4th. Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.