Lake Street Advisors Group LLC Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Lake Street Advisors Group LLC lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,723 shares of the company’s stock after selling 449 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Elevance Health were worth $1,004,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its position in Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after buying an additional 538,978 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after buying an additional 286,905 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of Elevance Health during the 3rd quarter valued at about $129,221,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 3.9 %

ELV opened at $386.22 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $386.62 and its two-hundred day moving average is $440.93. The company has a market capitalization of $87.81 billion, a P/E ratio of 15.08, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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%. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.77%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ELV shares. Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Four investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Company 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.