Elevance Health, Inc. (NYSE:ELV) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 17.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,837 shares of the company’s stock after buying an additional 4,249 shares during the period. Pacer Advisors Inc.’s holdings in Elevance Health were worth $10,638,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Mutual Advisors LLC grew its holdings in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank boosted its position in Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after purchasing an additional 3,049 shares during the period. Iridian Asset Management LLC CT grew its stake in Elevance Health by 10.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after buying an additional 3,786 shares during the last quarter. International Assets Investment Management LLC increased its position in Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after buying an additional 50,603 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the topic of a number of analyst reports. TD Cowen dropped their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Mizuho reduced their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Monday. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Finally, Royal Bank of Canada dropped their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $524.47.

Elevance Health Stock Performance

ELV opened at $405.67 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $94.08 billion, a PE ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 0.84. The business has a fifty day simple moving average of $386.42 and a 200-day simple moving average of $460.49. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, equities analysts predict that Elevance Health, Inc. will post 32.95 EPS for the current fiscal 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 given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 23.77%.

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.