Robeco Institutional Asset Management B.V. Sells 76,916 Shares of Elevance Health, Inc. (NYSE:ELV)

Robeco Institutional Asset Management B.V. reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 37.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,125 shares of the company's stock after selling 76,916 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of Elevance Health worth $48,372,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its holdings in Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock valued at $341,956,000 after buying an additional 656,344 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock worth $370,794,000 after purchasing an additional 538,978 shares during the period. International Assets Investment Management LLC grew its stake in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock worth $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Elevance Health by 16.2% during the 3rd 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 during the period. Finally, Wellington Management Group LLP lifted its holdings in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after buying an additional 286,905 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $3.43 during trading on Thursday, hitting $396.87. 354,174 shares of the company's stock traded hands, compared to its average volume of 1,781,733. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The business has a 50-day simple moving average of $386.71 and a 200-day simple moving average of $459.16. 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 $92.04 billion, a P/E ratio of 14.47, a PEG ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. As a group, analysts forecast that Elevance Health, Inc. will post 32.95 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. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is 23.77%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Argus reaffirmed a "hold" rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday. TD Cowen decreased their target price on Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Finally, Truist Financial lowered their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.