Blueshift Asset Management LLC Sells 375 Shares of Elevance Health, Inc. (NYSE:ELV)

Blueshift Asset Management LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 17.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,832 shares of the company’s stock after selling 375 shares during the quarter. Blueshift Asset Management LLC’s holdings in Elevance Health were worth $798,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ELV. BDO Wealth Advisors LLC raised its position in shares of Elevance Health by 266.7% during the 2nd quarter. BDO Wealth Advisors LLC now owns 55 shares of the company’s stock valued at $25,000 after buying an additional 40 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the 3rd quarter valued at about $25,000. Fortis Capital Advisors LLC purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $29,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Elevance Health during the 3rd quarter valued at about $30,000. Finally, TD Capital Management LLC purchased a new stake in Elevance Health in the 4th quarter worth about $30,000. 87.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. Royal Bank of Canada increased their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Morgan Stanley increased their price objective on shares of Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a research report on Thursday, October 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $547.00 price objective on shares of Elevance Health in a research report on Friday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $564.60.

Check Out Our Latest Research Report on ELV

Elevance Health Stock Down 1.1 %

Shares of NYSE ELV traded down $5.48 during midday trading on Monday, reaching $489.64. 267,556 shares of the company’s stock traded hands, compared to its average volume of 1,232,349. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $476.77 and its 200-day simple moving average is $463.78. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $501.78. The company has a market cap of $115.07 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.11 and a beta of 0.78.

Elevance Health (NYSE:ELVGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The firm had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same period last year, the firm earned $5.23 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 37.14 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, March 7th. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.33%. Elevance Health’s dividend payout ratio (DPR) is currently 23.52%.

About Elevance Health

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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