James Investment Research Inc. Has $784,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

James Investment Research Inc. lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 67.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,124 shares of the company’s stock after selling 4,479 shares during the period. James Investment Research Inc.’s holdings in Elevance Health were worth $784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP grew its stake in Elevance Health by 103.9% during the 4th quarter. Allworth Financial LP now owns 2,688 shares of the company’s stock valued at $1,050,000 after acquiring an additional 1,370 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Elevance Health during the 4th quarter valued at about $21,232,000. Principal Securities Inc. grew its stake in Elevance Health by 15.6% during the 4th quarter. Principal Securities Inc. now owns 18,374 shares of the company’s stock valued at $6,778,000 after acquiring an additional 2,475 shares in the last quarter. Roxbury Financial LLC purchased a new position in Elevance Health during the 4th quarter valued at about $190,000. Finally, Hickory Asset Management Inc. purchased a new position in Elevance Health during the 4th quarter valued at about $1,001,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.5 %

Shares of ELV stock opened at $389.58 on Monday. The stock has a 50 day moving average of $385.08 and a 200-day moving average of $448.71. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $90.35 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last issued its 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%. On average, equities analysts predict that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company 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 $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.76%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 25.46%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial lowered their target price 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. Stephens cut 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 research note on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Three equities research 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. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Profile

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.