Fielder Capital Group LLC Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Fielder Capital Group LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,314 shares of the company’s stock after selling 148 shares during the period. Fielder Capital Group LLC’s holdings in Elevance Health were worth $485,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ELV. Lifeworks Advisors LLC boosted its holdings in Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after purchasing an additional 25 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after buying an additional 26 shares during the period. Fullcircle Wealth LLC boosted its stake in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after buying an additional 26 shares in the last quarter. Dunhill Financial LLC grew its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, Catalina Capital Group LLC raised its position in Elevance Health by 1.7% in the third quarter. Catalina Capital Group LLC now owns 1,656 shares of the company’s stock worth $861,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $393.42 on Friday. The firm’s 50-day moving average is $387.15 and its two-hundred day moving average is $440.60. 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 has a market capitalization of $89.45 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced 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 positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.74%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ELV. Wells Fargo & Company lowered their price target on shares of 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 lowered their target price 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. Argus reiterated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.