Hardy Reed LLC Lowers Position in Elevance Health, Inc. (NYSE:ELV)

Hardy Reed LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 61.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,287 shares of the company's stock after selling 3,590 shares during the period. Hardy Reed LLC's holdings in Elevance Health were worth $844,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC increased its holdings in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock worth $341,956,000 after purchasing an additional 656,344 shares during the period. Stifel Financial Corp grew its position in 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 buying an additional 538,978 shares in the last quarter. International Assets Investment Management LLC increased its stake in 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 during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Elevance Health by 16.2% in 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 acquiring an additional 334,552 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ELV shares. Argus restated a "hold" rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $517.03.

Elevance Health Trading Down 1.4 %

NYSE:ELV traded down $5.46 during midday trading on Friday, reaching $385.04. 1,736,819 shares of the stock traded hands, compared to its average volume of 1,621,539. The stock has a market capitalization of $89.30 billion, a P/E ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a fifty day moving average of $385.18 and a 200 day moving average of $445.29. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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%. On average, research analysts predict that Elevance Health, Inc. will post 34 EPS for the current year.

Elevance Health Increases Dividend

The firm 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 $1.71 dividend. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is currently 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.