Elevance Health, Inc. (NYSE:ELV) Shares Sold by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,760 shares of the company’s stock after selling 207 shares during the period. Heritage Wealth Management Inc.’s holdings in Elevance Health were worth $649,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ELV. HM Payson & Co. lifted its stake in Elevance Health by 16.1% during the third quarter. HM Payson & Co. now owns 730 shares of the company’s stock worth $380,000 after purchasing an additional 101 shares in the last quarter. Stephens Inc. AR lifted its stake in Elevance Health by 3.8% during the third quarter. Stephens Inc. AR now owns 20,878 shares of the company’s stock worth $10,856,000 after purchasing an additional 756 shares in the last quarter. Roanoke Asset Management Corp NY acquired a new position in Elevance Health during the third quarter worth $228,000. Farther Finance Advisors LLC lifted its stake in Elevance Health by 26.3% during the third quarter. Farther Finance Advisors LLC now owns 1,523 shares of the company’s stock worth $792,000 after purchasing an additional 317 shares in the last quarter. Finally, Fullcircle Wealth LLC lifted its stake in Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after purchasing an additional 26 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 1.1 %

Shares of NYSE:ELV opened at $397.09 on Friday. The stock has a market capitalization of $90.28 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a 50 day moving average price of $387.78 and a 200 day moving average price of $439.07.

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 net margin of 3.38% and a return on equity of 18.28%. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business 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 is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.72%. Elevance Health’s dividend payout ratio is presently 26.71%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays upped 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. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Argus reaffirmed a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently 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.