Elevance Health, Inc. (NYSE:ELV) Stake Lessened by J. W. Coons Advisors LLC

J. W. Coons Advisors LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280 shares of the company’s stock after selling 200 shares during the period. J. W. Coons Advisors LLC’s holdings in Elevance Health were worth $472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter worth approximately $26,000. Eastern Bank purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $31,000. Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% in 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 in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $44,000. Finally, Crews Bank & Trust purchased a new stake in Elevance Health in the 4th quarter worth approximately $34,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $385.04 on Monday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm’s fifty day simple moving average is $385.25 and its 200 day simple moving average is $443.22. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $87.54 billion, a PE ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business 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 $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.78%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ELV shares. Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Mizuho cut their target price 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. Barclays increased their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Truist Financial cut their target price 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, Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. 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 stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

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.