Firetrail Investments PTY Ltd. Sells 1,280 Shares of Elevance Health, Inc. (NYSE:ELV)

Firetrail Investments PTY Ltd. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 26,355 shares of the company’s stock after selling 1,280 shares during the quarter. Elevance Health makes up approximately 2.9% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 18th largest holding. Firetrail Investments PTY Ltd.’s holdings in Elevance Health were worth $9,758,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raelipskie Partnership bought a new position in Elevance Health during the 3rd quarter valued at about $26,000. Dunhill Financial LLC lifted its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the period. Peterson Financial Group Inc. bought a new position in Elevance Health during the 3rd quarter valued at about $44,000. Crews Bank & Trust bought a new position in Elevance Health during the 4th quarter valued at about $34,000. Finally, Prospera Private Wealth LLC bought a new position in Elevance Health during the 3rd quarter valued at about $52,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.1 %

ELV stock opened at $397.09 on Friday. 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. The company has a market capitalization of $90.28 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.18 and a beta of 0.83. The business has a 50 day simple moving average of $387.78 and a two-hundred day simple moving average of $439.07.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is an increase 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 1.72%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Mizuho reduced their price target on shares of 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 raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $517.03.

About Elevance Health

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.