Moors & Cabot Inc. Has $454,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Moors & Cabot Inc. decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 38.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,231 shares of the company’s stock after selling 767 shares during the quarter. Moors & Cabot Inc.’s holdings in Elevance Health were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ELV. Prosperity Financial Group Inc. raised its position in shares of Elevance Health by 10.4% during the 4th quarter. Prosperity Financial Group Inc. now owns 964 shares of the company’s stock valued at $356,000 after acquiring an additional 91 shares during the last quarter. Natural Investments LLC acquired a new position in Elevance Health in the fourth quarter valued at about $583,000. AGF Management Ltd. boosted its holdings in Elevance Health by 10.4% during the fourth quarter. AGF Management Ltd. now owns 9,782 shares of the company’s stock worth $3,609,000 after buying an additional 924 shares during the last quarter. Wealthfront Advisers LLC grew its position in shares of Elevance Health by 1,034.3% during the 4th quarter. Wealthfront Advisers LLC now owns 151,019 shares of the company’s stock worth $55,711,000 after buying an additional 137,705 shares during the period. Finally, Inspire Advisors LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at about $716,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ELV shares. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $421.72 on Friday. The firm has a market cap of $95.88 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. 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 stock’s fifty day moving average price is $395.45 and its two-hundred day moving average price is $429.65. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates 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 expect that Elevance Health, Inc. will post 33.96 EPS 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. Shareholders 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 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is currently 26.71%.

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.