Buckingham Capital Management Inc. Sells 850 Shares of Elevance Health, Inc. (NYSE:ELV)

Buckingham Capital Management Inc. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 55.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 676 shares of the company’s stock after selling 850 shares during the period. Buckingham Capital Management Inc.’s holdings in Elevance Health were worth $249,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Resonant Capital Advisors LLC increased its stake in Elevance Health by 43.9% in the third quarter. Resonant Capital Advisors LLC now owns 721 shares of the company’s stock valued at $375,000 after purchasing an additional 220 shares in the last quarter. OLD National Bancorp IN grew its position in shares of Elevance Health by 1.6% in the 3rd quarter. OLD National Bancorp IN now owns 4,813 shares of the company’s stock valued at $2,503,000 after acquiring an additional 74 shares during the period. Barden Capital Management Inc. increased its stake in shares of Elevance Health by 2.4% during the 3rd quarter. Barden Capital Management Inc. now owns 4,251 shares of the company’s stock worth $2,211,000 after purchasing an additional 98 shares during the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Elevance Health by 15.2% in the 3rd quarter. Toth Financial Advisory Corp now owns 9,835 shares of the company’s stock valued at $5,114,000 after purchasing an additional 1,296 shares during the period. Finally, Border to Coast Pensions Partnership Ltd lifted its stake in Elevance Health by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 57,925 shares of the company’s stock valued at $30,033,000 after purchasing an additional 2,471 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.5 %

Shares of NYSE:ELV opened at $389.58 on Tuesday. The company has a market capitalization of $90.35 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83. 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 business’s 50 day simple moving average is $385.08 and its 200 day simple moving average is $448.13. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that Elevance Health, Inc. will post 34.05 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. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 25.46%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELV. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Mizuho reduced their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, 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 note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from 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.