E. Ohman J or Asset Management AB Increases Stake in Elevance Health, Inc. (NYSE:ELV)

E. Ohman J or Asset Management AB raised its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,440 shares of the company's stock after purchasing an additional 1,040 shares during the period. E. Ohman J or Asset Management AB's holdings in Elevance Health were worth $3,851,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC grew its holdings in Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock worth $341,956,000 after buying an additional 656,344 shares in the last quarter. Stifel Financial Corp boosted its holdings in Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock worth $370,794,000 after acquiring an additional 538,978 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock worth $276,972,000 after acquiring an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of 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 valued at $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Elevance Health stock traded down $0.73 during midday trading on Wednesday, reaching $401.26. 459,959 shares of the stock were exchanged, compared to its average volume of 1,743,189. The company's fifty day moving average is $386.46 and its 200-day moving average is $455.31. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market cap of $93.06 billion, a PE ratio of 15.67, a PEG ratio of 1.19 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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, sell-side analysts forecast that Elevance Health, Inc. will post 34.07 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. This is a boost 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 is 25.46%.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. Mizuho decreased their price objective 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. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Morgan Stanley reduced their price objective on Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Stephens lowered shares of 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. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $517.03.

Elevance Health 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.