Elevance Health, Inc. (NYSE:ELV) Stake Lowered by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 46.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,700 shares of the company's stock after selling 4,006 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Elevance Health were worth $1,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Raelipskie Partnership acquired a new position in Elevance Health during the third quarter worth $26,000. Crews Bank & Trust acquired a new position in shares of Elevance Health during the 4th quarter worth $34,000. Dunhill Financial LLC grew its stake in 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 acquiring an additional 26 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health in the third quarter valued at about $44,000. Finally, Financial Perspectives Inc purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Down 0.6 %

NYSE ELV traded down $2.52 during mid-day trading on Thursday, reaching $394.96. 123,491 shares of the company's stock traded hands, compared to its average volume of 1,574,102. The company has a fifty day simple moving average of $389.26 and a 200-day simple moving average of $436.03. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a market cap of $89.79 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.73%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is 26.71%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Saturday, March 1st. Finally, Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.