Parkside Financial Bank & Trust Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Parkside Financial Bank & Trust trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 18.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 401 shares of the company’s stock after selling 89 shares during the period. Parkside Financial Bank & Trust’s holdings in Elevance Health were worth $148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ELV. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter valued at approximately $26,000. Dunhill Financial LLC grew its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the period. Peterson Financial Group Inc. bought a new stake in Elevance Health during the third quarter valued at approximately $44,000. Crews Bank & Trust bought a new stake in Elevance Health during the fourth quarter valued at approximately $34,000. Finally, Prospera Private Wealth LLC bought a new stake in Elevance Health during the third quarter valued at approximately $52,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on ELV shares. Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Price Performance

ELV stock opened at $397.09 on Friday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company’s fifty day moving average price is $387.78 and its 200-day moving average price is $439.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market capitalization 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.

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%. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm 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 dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.72%. Elevance Health’s dividend payout ratio is presently 26.71%.

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.