Principal Securities Inc. Has $6.78 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Principal Securities Inc. boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,374 shares of the company's stock after purchasing an additional 2,475 shares during the quarter. Principal Securities Inc.'s holdings in Elevance Health were worth $6,778,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ELV. State Street Corp boosted its stake in shares of Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company's stock worth $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC grew its stake in shares of Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock valued at $2,511,814,000 after purchasing an additional 85,770 shares during the last quarter. Sanders Capital LLC increased its holdings in shares of Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock valued at $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP raised its stake in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after buying an additional 334,552 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ELV shares. Mizuho lowered 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Barclays lifted their price target on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, StockNews.com upgraded 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Stock Up 2.5 %

ELV stock traded up $9.38 during mid-day trading on Wednesday, hitting $391.86. The stock had a trading volume of 1,123,877 shares, compared to its average volume of 1,627,207. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a fifty day moving average of $384.81 and a 200 day moving average of $446.05. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $90.88 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data 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%. On average, equities analysts expect that Elevance Health, Inc. will post 34 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is currently 25.46%.

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.