Elevance Health, Inc. (NYSE:ELV) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 37.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 458,333 shares of the company’s stock after selling 274,161 shares during the quarter. Ninety One UK Ltd’s holdings in Elevance Health were worth $169,079,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State Street Corp raised its stake in Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after purchasing an additional 129,709 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after buying an additional 85,770 shares in the last quarter. Sanders Capital LLC raised its position 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 buying an additional 44,805 shares during the last quarter. Wellington Management Group LLP lifted 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 valued at $2,320,024,000 after buying an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after acquiring an additional 334,552 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

ELV opened at $402.29 on Wednesday. The company has a market capitalization of $93.30 billion, a P/E ratio of 15.71, a PEG ratio of 1.19 and a beta of 0.83. The company has a 50-day moving average of $386.45 and a 200-day moving average of $456.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Equities analysts expect that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. 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 payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. TD Cowen cut 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. Finally, Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Three 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 company’s stock. Based on data from MarketBeat, the stock 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.