Busey Bank Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Busey Bank lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,607 shares of the company’s stock after selling 62 shares during the quarter. Busey Bank’s holdings in Elevance Health were worth $593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Quarry LP purchased a new stake in shares of Elevance Health in the 2nd quarter worth approximately $73,000. EP Wealth Advisors LLC increased its holdings in shares of Elevance Health by 18.1% during the second quarter. EP Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $1,020,000 after acquiring an additional 289 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Elevance Health in the 2nd quarter worth about $12,805,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Elevance Health by 41.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 50,000 shares of the company’s stock worth $27,093,000 after purchasing an additional 14,700 shares in the last quarter. Finally, Anchor Investment Management LLC increased its stake in Elevance Health by 4.3% during the 2nd quarter. Anchor Investment Management LLC now owns 4,963 shares of the company’s stock valued at $2,689,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $399.36 on Friday. The stock has a market cap of $92.62 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock’s fifty day moving average is $386.71 and its 200 day moving average is $459.16. Elevance Health, Inc. has a one year low of $362.21 and a one year 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 the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Sell-side analysts anticipate that Elevance Health, Inc. will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.71%. Elevance Health’s dividend payout ratio is 23.77%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ELV. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $517.03.

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.