Good Life Advisors LLC Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Good Life Advisors LLC decreased its position in Elevance Health, Inc. (NYSE:ELVFree Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 541 shares of the company’s stock after selling 60 shares during the period. Good Life Advisors LLC’s holdings in Elevance Health were worth $256,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 3rd quarter valued at approximately $25,000. Fortis Capital Advisors LLC bought a new position in shares of Elevance Health during the 4th quarter valued at approximately $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Elevance Health during the 3rd quarter valued at approximately $30,000. TD Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter valued at approximately $30,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Elevance Health during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $518.54 on Friday. The firm has a market cap of $120.66 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $521.18. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $502.12 and its two-hundred day simple moving average is $476.06.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The business had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.23 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 37.15 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.26%. Elevance Health’s payout ratio is presently 25.90%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ELV shares. Cantor Fitzgerald raised their price objective on shares of Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Barclays started coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $569.36.

View Our Latest Analysis on Elevance Health

About Elevance Health

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELVFree Report).

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.