GAM Holding AG Sells 1,032 Shares of Elevance Health, Inc. (NYSE:ELV)

GAM Holding AG reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,709 shares of the company's stock after selling 1,032 shares during the quarter. GAM Holding AG's holdings in Elevance Health were worth $5,426,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raelipskie Partnership bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $31,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $34,000. Finally, Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after buying an additional 26 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV traded down $5.46 during trading hours on Friday, reaching $385.04. 1,736,819 shares of the stock traded hands, compared to its average volume of 1,621,539. The company has a market capitalization of $89.30 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company's 50-day simple moving average is $385.25 and its two-hundred day simple moving average is $444.32.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. Equities research analysts forecast that Elevance Health, Inc. will post 34 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. 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. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health's payout ratio is currently 25.46%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays increased their price objective on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.