Concord Wealth Partners Sells 57 Shares of Elevance Health, Inc. (NYSE:ELV)

Concord Wealth Partners decreased its position in Elevance Health, Inc. (NYSE:ELV) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,388 shares of the company’s stock after selling 57 shares during the quarter. Concord Wealth Partners’ holdings in Elevance Health were worth $881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Austin Private Wealth LLC increased its stake in shares of Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after acquiring an additional 29 shares in the last quarter. Caprock Group LLC purchased a new stake in Elevance Health in the fourth quarter worth about $1,989,000. Granite Harbor Advisors Inc. increased its stake in shares of Elevance Health by 5.7% during the fourth quarter. Granite Harbor Advisors Inc. now owns 4,198 shares of the company’s stock valued at $1,549,000 after purchasing an additional 227 shares in the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of Elevance Health by 3.4% during the fourth quarter. Mediolanum International Funds Ltd now owns 8,608 shares of the company’s stock valued at $3,167,000 after purchasing an additional 280 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Royal Bank of Canada decreased their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Down 0.9 %

ELV stock opened at $395.82 on Friday. The business’s 50-day moving average price is $386.50 and its 200-day moving average price is $457.81. The stock has a market cap of $91.80 billion, a P/E ratio of 15.46, a PEG ratio of 1.20 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. 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 (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (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, equities research analysts forecast that Elevance Health, Inc. will post 34.09 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.73%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 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.