Pathway Financial Advisers LLC Decreases Holdings in Elevance Health, Inc. (NYSE:ELV)

Pathway Financial Advisers LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 99.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,284 shares of the company’s stock after selling 656,323 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Elevance Health were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castellan Group lifted its holdings in Elevance Health by 10.7% in the fourth quarter. Castellan Group now owns 5,720 shares of the company’s stock valued at $2,110,000 after acquiring an additional 551 shares during the period. Howard Bailey Securities LLC boosted its holdings in shares of Elevance Health by 55.8% in the fourth quarter. Howard Bailey Securities LLC now owns 1,220 shares of the company’s stock worth $450,000 after buying an additional 437 shares during the last quarter. Stanley Laman Group Ltd. grew its position in Elevance Health by 8.6% during the fourth quarter. Stanley Laman Group Ltd. now owns 8,208 shares of the company’s stock valued at $3,028,000 after buying an additional 648 shares during the period. Consolidated Planning Corp increased its holdings in Elevance Health by 9.1% during the fourth quarter. Consolidated Planning Corp now owns 931 shares of the company’s stock valued at $343,000 after buying an additional 78 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its stake in shares of Elevance Health by 38.1% during the 4th quarter. Naples Global Advisors LLC now owns 1,740 shares of the company’s stock worth $642,000 after acquiring an additional 480 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ELV shares. Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Truist Financial decreased their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Morgan Stanley decreased their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Stock Down 1.5 %

ELV opened at $385.52 on Thursday. The company has a market capitalization of $89.41 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The firm has a 50-day simple moving average of $384.96 and a two-hundred day simple moving average of $450.70. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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 forecast that Elevance Health, Inc. will post 34.05 earnings per share 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 issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. 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 dividend yield of 1.77%. Elevance Health’s dividend payout ratio (DPR) is 25.46%.

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.