Allspring Global Investments Holdings LLC Buys 5,726 Shares of Elevance Health, Inc. (NYSE:ELV)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,140 shares of the company's stock after buying an additional 5,726 shares during the period. Allspring Global Investments Holdings LLC's holdings in Elevance Health were worth $20,904,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lifeworks Advisors LLC boosted its stake in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock valued at $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock worth $477,000 after acquiring an additional 26 shares during the period. Fullcircle Wealth LLC lifted its stake in shares of Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock worth $906,000 after acquiring an additional 26 shares during the period. Dunhill Financial LLC lifted its stake in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Elevance Health by 5.6% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company's stock worth $263,000 after acquiring an additional 27 shares during the period. Institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th. Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Finally, Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $517.03.

Elevance Health Stock Down 0.2 %

ELV stock traded down $0.98 during trading hours on Thursday, hitting $390.73. The company's stock had a trading volume of 1,324,885 shares, compared to its average volume of 1,618,044. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $90.62 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a 50 day moving average price of $384.93 and a two-hundred day moving average price of $445.67.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts' consensus estimates 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 research analysts expect that Elevance Health, Inc. will post 34 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is 25.46%.

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.