KBC Group NV Has $172.54 Million Stake in Elevance Health, Inc. (NYSE:ELV)

KBC Group NV lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 69.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467,711 shares of the company's stock after purchasing an additional 192,156 shares during the quarter. KBC Group NV owned 0.20% of Elevance Health worth $172,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its stake in shares of 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 during the last quarter. Stifel Financial Corp grew its position 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 increased its holdings 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 purchasing an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Elevance Health by 16.2% in 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 during the last quarter. Finally, Wellington Management Group LLP raised its position in Elevance Health by 6.9% in 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 during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 2.5 %

Shares of NYSE:ELV traded up $10.18 during mid-day trading on Monday, hitting $411.14. The company had a trading volume of 1,961,111 shares, compared to its average volume of 1,894,288. The company has a market capitalization of $95.35 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a fifty day moving average price of $386.21 and a 200 day moving average price of $461.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results 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, research 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. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is 23.77%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ELV. Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a research note on Friday, October 18th. TD Cowen decreased their price target on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Barclays lifted 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. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. Finally, StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $525.60.

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.