Bryn Mawr Capital Management LLC Acquires 95,846 Shares of Elevance Health, Inc. (NYSE:ELV)

Bryn Mawr Capital Management LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4,275.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,088 shares of the company's stock after purchasing an additional 95,846 shares during the quarter. Elevance Health comprises about 1.4% of Bryn Mawr Capital Management LLC's investment portfolio, making the stock its 18th largest holding. Bryn Mawr Capital Management LLC's holdings in Elevance Health were worth $36,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mutual Advisors LLC lifted its stake in Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after buying an additional 52 shares in the last quarter. Czech National Bank raised its stake in shares of Elevance Health by 6.5% during the 4th 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 in the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Elevance Health by 10.7% during the 3rd 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 in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after acquiring an additional 532,016 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock valued at $27,858,000 after acquiring an additional 50,603 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ELV shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial cut 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. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Finally, Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Stock Down 1.4 %

Shares of Elevance Health stock traded down $5.46 during trading on Friday, reaching $385.04. The stock had a trading volume of 1,727,007 shares, compared to its average volume of 1,603,859. The company has a market capitalization of $89.30 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83. The stock has a fifty day moving average price of $385.18 and a two-hundred day moving average price of $445.29. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) 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%. Sell-side analysts predict that Elevance Health, Inc. will post 34 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced 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. This represents a $6.84 annualized dividend and a yield of 1.78%. 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 is presently 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.