Rhumbline Advisers Sells 12,731 Shares of Elevance Health, Inc. (NYSE:ELV)

Rhumbline Advisers decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 467,037 shares of the company's stock after selling 12,731 shares during the period. Rhumbline Advisers owned 0.20% of Elevance Health worth $172,290,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Raelipskie Partnership acquired a new stake in Elevance Health during the third quarter valued at $26,000. PSI Advisors LLC acquired a new stake in Elevance Health during the third quarter valued at $27,000. Eastern Bank acquired a new stake in Elevance Health during the third quarter valued at $31,000. Dunhill Financial LLC boosted its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health during the third quarter valued at $44,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

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

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, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities research analysts predict that Elevance Health, Inc. will post 34 earnings per share 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.75%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health's payout ratio is currently 25.46%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ELV. Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Argus reaffirmed a "hold" rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Three research 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. According to data from MarketBeat.com, Elevance Health 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.