Boston Partners Reduces Stock Position in Elevance Health, Inc. (NYSE:ELV)

Boston Partners decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,048 shares of the company's stock after selling 135,383 shares during the period. Boston Partners owned 0.11% of Elevance Health worth $92,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Raelipskie Partnership bought a new position in shares of Elevance Health during the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Crews Bank & Trust bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC increased its stake in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $7.01 on Friday, hitting $427.27. 3,034,683 shares of the company's stock were exchanged, compared to its average volume of 1,320,784. The company has a 50-day simple moving average of $400.52 and a 200-day simple moving average of $425.32. The stock has a market capitalization of $97.14 billion, a PE ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

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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, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.60%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ELV shares. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target on the stock in a report on Monday, March 17th. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Finally, Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $519.81.

Insider Activity

In other news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

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.