Moloney Securities Asset Management LLC Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Moloney Securities Asset Management LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,781 shares of the company’s stock after selling 69 shares during the period. Moloney Securities Asset Management LLC’s holdings in Elevance Health were worth $657,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Atomi Financial Group Inc. raised its stake in Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Elevance Health by 7.5% during the third quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock worth $728,000 after buying an additional 97 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Elevance Health by 50.8% in the third quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock valued at $1,024,000 after buying an additional 664 shares during the last quarter. CHICAGO TRUST Co NA lifted its stake in shares of Elevance Health by 110.2% during the third quarter. CHICAGO TRUST Co NA now owns 1,667 shares of the company’s stock valued at $867,000 after buying an additional 874 shares during the period. Finally, Professional Financial Advisors LLC acquired a new stake in Elevance Health during the third quarter worth approximately $1,238,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. TD Cowen dropped their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company decreased their price target 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 dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Stephens cut 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 report on Wednesday, January 22nd. Three equities research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Up 0.2 %

Shares of Elevance Health stock opened at $391.23 on Monday. The company has a fifty day moving average price of $385.87 and a 200 day moving average price of $453.37. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market cap of $90.73 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Equities research analysts forecast that Elevance Health, Inc. will post 34.05 earnings per share 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. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

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.