Marathon Asset Management Ltd Takes Position in Elevance Health, Inc. (NYSE:ELV)

Marathon Asset Management Ltd purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 227,112 shares of the company's stock, valued at approximately $83,781,000. Elevance Health makes up approximately 2.3% of Marathon Asset Management Ltd's holdings, making the stock its 10th biggest holding. Marathon Asset Management Ltd owned 0.10% of Elevance Health at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lifeworks Advisors LLC raised its holdings 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 valued at $539,000 after purchasing an additional 25 shares during the last quarter. Dunhill Financial LLC grew its position in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Catalina Capital Group LLC increased its stake in Elevance Health by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company's stock valued at $861,000 after buying an additional 27 shares during the last quarter. Tobam lifted its holdings in Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after acquiring an additional 27 shares during the period. Finally, Jacobi Capital Management LLC raised its stake in shares of Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after purchasing an additional 27 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of Elevance Health stock traded up $6.36 on Thursday, reaching $403.83. The stock had a trading volume of 1,393,842 shares, compared to its average volume of 1,604,667. The business's 50 day moving average is $389.26 and its two-hundred day moving average is $436.03. 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, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a market cap of $91.81 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results 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%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is an increase 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 1.69%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's payout ratio is currently 26.71%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on ELV shares. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus reaffirmed a "hold" rating and issued a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Saturday, March 1st. Barclays raised 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Company 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.