Manning & Napier Advisors LLC Acquires Shares of 9,146 Elevance Health, Inc. (NYSE:ELV)

Manning & Napier Advisors LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,146 shares of the company's stock, valued at approximately $3,374,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Cypress Wealth Services LLC grew its position in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock worth $353,000 after buying an additional 23 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Elevance Health by 4.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company's stock worth $320,000 after purchasing an additional 25 shares in the last quarter. Lifeworks Advisors LLC increased its position in shares of Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock worth $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC raised its stake in Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock valued at $477,000 after purchasing an additional 26 shares in the last quarter. Finally, Fullcircle Wealth LLC lifted its position in Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock worth $906,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Down 0.3 %

Shares of Elevance Health stock traded down $1.04 during trading on Thursday, reaching $399.26. 724,358 shares of the company traded hands, compared to its average volume of 1,805,172. The firm has a market capitalization of $92.60 billion, a PE ratio of 14.53, a P/E/G ratio of 1.11 and a beta of 0.84. The company has a 50 day moving average price of $386.71 and a 200-day moving average price 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. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

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 (EPS) 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, equities research analysts expect that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business 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 dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.71%. Elevance Health's dividend payout ratio (DPR) is 23.77%.

Analysts Set New Price Targets

Several research firms have commented on ELV. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.