Leavell Investment Management Inc. Sells 1,702 Shares of Elevance Health, Inc. (NYSE:ELV)

Leavell Investment Management Inc. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,463 shares of the company's stock after selling 1,702 shares during the quarter. Leavell Investment Management Inc.'s holdings in Elevance Health were worth $1,646,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. Mutual Advisors LLC increased its stake in shares of Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after acquiring an additional 52 shares during the last quarter. Czech National Bank grew its stake in Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after purchasing an additional 3,049 shares in the last quarter. Iridian Asset Management LLC CT grew its stake in Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company's stock valued at $20,360,000 after purchasing an additional 3,786 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after buying an additional 532,016 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock valued at $27,858,000 after buying an additional 50,603 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Barclays raised their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Mizuho dropped their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. TD Cowen reduced their price target 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, StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average target price of $517.03.

Elevance Health Stock Performance

ELV stock traded down $2.02 on Friday, reaching $389.58. 1,202,248 shares of the company were exchanged, compared to its average volume of 1,761,671. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock's fifty day moving average price is $385.08 and its 200 day moving average price is $448.71. The firm has a market capitalization of $90.35 billion, a PE ratio of 15.21, a PEG ratio of 1.17 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, topping 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 anticipate that Elevance Health, Inc. will post 34.05 EPS for the current fiscal 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 given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.76%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. 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.