Bell Investment Advisors Inc Has $352,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Bell Investment Advisors Inc lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 954 shares of the company’s stock after selling 75 shares during the quarter. Bell Investment Advisors Inc’s holdings in Elevance Health were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after purchasing an additional 538,978 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $129,221,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $88,882,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $409.59 on Monday. 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 firm has a market cap of $93.12 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86. The business’s fifty day moving average is $390.64 and its two-hundred day moving average is $433.36. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

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 return on equity of 18.28% and a net margin of 3.38%. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ELV shares. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Argus reaffirmed a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health currently has a consensus 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.