Elevance Health, Inc. (NYSE:ELV) Shares Sold by Toth Financial Advisory Corp

Toth Financial Advisory Corp reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 47.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,165 shares of the company’s stock after selling 4,670 shares during the quarter. Toth Financial Advisory Corp’s holdings in Elevance Health were worth $1,905,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Cypress Wealth Services LLC lifted its holdings in shares of Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after acquiring an additional 23 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after acquiring an additional 25 shares during the last quarter. Lifeworks Advisors LLC lifted its stake in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after acquiring an additional 25 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after acquiring an additional 26 shares in the last quarter. Finally, Fullcircle Wealth LLC lifted its stake in Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after acquiring an additional 26 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the topic of several research reports. TD Cowen decreased their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Friday. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Finally, Royal Bank of Canada reduced their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.

Elevance Health Price Performance

Shares of NYSE ELV opened at $401.43 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market capitalization of $93.10 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. The stock’s 50-day simple moving average is $386.21 and its 200-day simple moving average is $462.34.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results 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 net margin of 3.68% and a return on equity of 19.56%. As a group, equities research analysts forecast that Elevance Health, Inc. will post 32.95 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.70%. Elevance Health’s payout ratio is 23.77%.

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.