James Investment Research Inc. Sells 4,479 Shares of Elevance Health, Inc. (NYSE:ELV)

James Investment Research Inc. trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 67.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,124 shares of the company’s stock after selling 4,479 shares during the period. James Investment Research Inc.’s holdings in Elevance Health were worth $784,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mutual Advisors LLC grew its position in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after acquiring an additional 52 shares during the period. Czech National Bank grew its holdings in shares of Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after purchasing an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT grew its holdings in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in shares of Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after purchasing an additional 50,603 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ELV. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Mizuho decreased their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Argus reiterated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Three 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, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Down 0.5 %

NYSE:ELV opened at $389.58 on Monday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The business’s 50-day moving average price is $385.08 and its two-hundred day moving average price is $448.71. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. On average, equities analysts expect that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.76%. Elevance Health’s dividend payout ratio is presently 25.46%.

Elevance Health Company 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.