Prudent Man Advisors LLC Sells 253 Shares of Elevance Health, Inc. (NYSE:ELV)

Prudent Man Advisors LLC decreased its position in Elevance Health, Inc. (NYSE:ELV) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,229 shares of the company’s stock after selling 253 shares during the quarter. Prudent Man Advisors LLC’s holdings in Elevance Health were worth $453,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. HM Payson & Co. increased its position in Elevance Health by 16.1% in the third quarter. HM Payson & Co. now owns 730 shares of the company’s stock worth $380,000 after buying an additional 101 shares in the last quarter. Stephens Inc. AR increased its position in Elevance Health by 3.8% in the third quarter. Stephens Inc. AR now owns 20,878 shares of the company’s stock worth $10,856,000 after buying an additional 756 shares in the last quarter. Roanoke Asset Management Corp NY purchased a new stake in Elevance Health in the third quarter worth about $228,000. Farther Finance Advisors LLC increased its position in Elevance Health by 26.3% in the third quarter. Farther Finance Advisors LLC now owns 1,523 shares of the company’s stock worth $792,000 after buying an additional 317 shares in the last quarter. Finally, Fullcircle Wealth LLC increased its position in Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after buying an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ELV shares. Argus restated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Mizuho reduced their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $397.09 on Friday. The stock has a 50 day moving average of $387.78 and a 200 day moving average of $439.07. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market cap of $90.28 billion, a PE ratio of 15.51, a PEG ratio of 1.18 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

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%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.72%. This is a positive change 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 26.71%.

Elevance Health Company 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.