Westbourne Investment Advisors Inc. Has $5.63 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Westbourne Investment Advisors Inc. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,928 shares of the company’s stock after selling 61 shares during the period. Elevance Health accounts for 2.2% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 16th largest position. Westbourne Investment Advisors Inc.’s holdings in Elevance Health were worth $5,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 3rd quarter valued at about $25,000. Fortis Capital Advisors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $29,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Elevance Health in the third quarter valued at about $30,000. TD Capital Management LLC bought a new position in shares of Elevance Health during the fourth quarter worth about $30,000. Finally, Tyler Stone Wealth Management acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $39,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.1 %

Shares of ELV stock traded up $0.36 on Thursday, reaching $520.32. 268,909 shares of the company were exchanged, compared to its average volume of 1,013,348. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50-day moving average of $500.26 and a 200-day moving average of $475.45. The company has a market cap of $121.08 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $521.18.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The business had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. Elevance Health’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.23 EPS. Analysts anticipate that Elevance Health, Inc. will post 37.15 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barclays began coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective for the company. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald upped their target price on Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $569.36.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is owned by insiders.

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.