Elevance Health, Inc. (NYSE:ELV) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 33.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,919 shares of the company's stock after selling 951 shares during the quarter. Asset Dedication LLC's holdings in Elevance Health were worth $708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company's stock valued at $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC increased its stake in Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock worth $2,511,814,000 after purchasing an additional 85,770 shares during the period. Sanders Capital LLC increased its stake in Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock worth $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP increased its stake in Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of ELV traded down $0.94 during mid-day trading on Thursday, reaching $399.36. 1,484,159 shares of the company's stock were exchanged, compared to its average volume of 1,847,171. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $92.62 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. The business's fifty day simple moving average is $386.71 and its 200-day simple moving average is $459.16. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. On average, equities research analysts expect that Elevance Health, Inc. will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.71%. Elevance Health's dividend payout ratio (DPR) is currently 23.77%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com downgraded Elevance Health from a "buy" rating to a "hold" rating in a research report on Monday. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Truist Financial lowered their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $517.03.

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.