Elevance Health, Inc. (NYSE:ELV) Shares Sold by Garrison Bradford & Associates Inc.

Garrison Bradford & Associates Inc. decreased its position in Elevance Health, Inc. (NYSE:ELV) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,468 shares of the company’s stock after selling 799 shares during the quarter. Elevance Health accounts for about 2.5% of Garrison Bradford & Associates Inc.’s investment portfolio, making the stock its 13th largest holding. Garrison Bradford & Associates Inc.’s holdings in Elevance Health were worth $2,386,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Raelipskie Partnership acquired a new stake in Elevance Health in the third quarter valued at approximately $26,000. Dunhill Financial LLC grew its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Elevance Health during the 4th quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new position in shares of Elevance Health during the 3rd quarter valued at approximately $44,000. Finally, Crews Bank & Trust purchased a new position in shares of Elevance Health during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

ELV stock opened at $409.59 on Friday. The stock has a market capitalization of $93.12 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock’s fifty day moving average is $390.64 and its two-hundred day moving average is $434.13.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

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.