Lake Street Advisors Group LLC Sells 449 Shares of Elevance Health, Inc. (NYSE:ELV)

Lake Street Advisors Group LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,723 shares of the company’s stock after selling 449 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Elevance Health were worth $1,004,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ELV. Impax Asset Management Group plc boosted its holdings in shares of Elevance Health by 1.1% in the 4th quarter. Impax Asset Management Group plc now owns 25,596 shares of the company’s stock valued at $9,442,000 after buying an additional 291 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in Elevance Health by 26.9% during the fourth quarter. Crestwood Advisors Group LLC now owns 669 shares of the company’s stock valued at $247,000 after acquiring an additional 142 shares during the last quarter. Colonial River Investments LLC boosted its stake in Elevance Health by 168.0% in the fourth quarter. Colonial River Investments LLC now owns 1,509 shares of the company’s stock valued at $557,000 after acquiring an additional 946 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Elevance Health in the fourth quarter worth $4,848,000. Finally, C WorldWide Group Holding A S increased its position in shares of Elevance Health by 30.3% during the fourth quarter. C WorldWide Group Holding A S now owns 91,383 shares of the company’s stock worth $33,711,000 after purchasing an additional 21,239 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 3.9 %

Shares of ELV opened at $386.22 on Thursday. The company has a market capitalization of $87.81 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The stock’s 50-day moving average price is $386.62 and its 200-day moving average price is $440.93. 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 released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate 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, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company 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 $1.71 dividend. This is a boost 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 1.77%. Elevance Health’s payout ratio is presently 26.71%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ELV shares. Mizuho dropped their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Argus restated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.