Firetrail Investments PTY Ltd. Decreases Holdings in Elevance Health, Inc. (NYSE:ELV)

Firetrail Investments PTY Ltd. trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,355 shares of the company’s stock after selling 1,280 shares during the quarter. Elevance Health accounts for approximately 2.9% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 18th biggest holding. Firetrail Investments PTY Ltd.’s holdings in Elevance Health were worth $9,758,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raelipskie Partnership purchased a new position in shares of Elevance Health in the third quarter worth $26,000. Crews Bank & Trust purchased a new position in shares of Elevance Health in the fourth quarter worth $34,000. Dunhill Financial LLC increased its stake in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the third quarter worth $44,000. Finally, Financial Perspectives Inc purchased a new position in shares of Elevance Health in the fourth quarter worth $50,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ELV shares. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays boosted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Argus reissued a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, thirteen 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 presently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Performance

Shares of ELV stock opened at $397.09 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market cap of $90.28 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. 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 company’s fifty day moving average price is $387.78 and its 200-day moving average price is $439.07.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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, equities analysts expect that Elevance Health, Inc. will post 33.96 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. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.72%. Elevance Health’s payout ratio is presently 26.71%.

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.