Los Angeles Capital Management LLC Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Los Angeles Capital Management LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 72.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,163 shares of the company’s stock after selling 2,998 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Elevance Health were worth $429,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Stifel Financial Corp grew its stake in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after buying an additional 538,978 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 acquiring an additional 334,552 shares during the last quarter. Wellington Management Group LLP grew its position in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares in the last quarter. World Investment Advisors LLC bought a new stake in Elevance Health during the third quarter worth approximately $129,221,000. Finally, BSN CAPITAL PARTNERS Ltd purchased a new stake in Elevance Health during the fourth quarter valued at approximately $80,396,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ELV shares. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. 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. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Stock Down 0.3 %

Shares of NYSE:ELV opened at $395.63 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $388.27 and its 200 day moving average is $437.33. The stock has a market cap of $89.95 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last posted 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 return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders 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 annualized dividend and a dividend yield of 1.73%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

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.