Elevance Health, Inc. (NYSE:ELV) Position Raised by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 28.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,953 shares of the company’s stock after purchasing an additional 1,091 shares during the period. Lecap Asset Management Ltd.’s holdings in Elevance Health were worth $1,827,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. Pathway Financial Advisers LLC grew its position in Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares in the last quarter. Stifel Financial Corp grew its position in Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after acquiring an additional 538,978 shares in the last quarter. International Assets Investment Management LLC increased its position in Elevance Health by 85,533.1% during 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 last quarter. Massachusetts Financial Services Co. MA raised its stake 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 in the last quarter. Finally, Wellington Management Group LLP grew its stake in Elevance Health by 6.9% in the 3rd 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 last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ELV shares. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. TD Cowen dropped their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Truist Financial lowered their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Down 3.0 %

ELV stock opened at $389.94 on Friday. 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 has a 50 day moving average price of $386.45 and a two-hundred day moving average price of $454.94. The company has a market cap of $90.43 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.19 and a beta of 0.83. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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%. Analysts anticipate that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. Elevance Health’s payout ratio is presently 25.46%.

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.