Fielder Capital Group LLC Cuts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Fielder Capital Group LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,314 shares of the company’s stock after selling 148 shares during the period. Fielder Capital Group LLC’s holdings in Elevance Health were worth $485,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Raelipskie Partnership purchased a new stake in Elevance Health during the third quarter valued at about $26,000. Crews Bank & Trust purchased a new stake in shares of Elevance Health during the 4th quarter worth about $34,000. Dunhill Financial LLC increased its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Elevance Health in the third quarter valued at approximately $44,000. Finally, Financial Perspectives Inc acquired a new position in Elevance Health during the fourth quarter valued at approximately $50,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV stock opened at $393.42 on Friday. The firm has a fifty day moving average of $387.15 and a two-hundred day moving average of $440.60. The firm has a market cap of $89.45 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. 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 annualized dividend and a yield of 1.74%. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ELV. Argus reissued a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target 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.