YHB Investment Advisors Inc. trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,447 shares of the company’s stock after selling 223 shares during the period. YHB Investment Advisors Inc.’s holdings in Elevance Health were worth $2,009,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ELV. State Street Corp raised its position in shares of Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after buying an additional 129,709 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $2,511,814,000 after acquiring an additional 85,770 shares during the period. Sanders Capital LLC increased its stake in shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after acquiring an additional 44,805 shares during the period. Wellington Management Group LLP raised its holdings in Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Elevance Health by 16.2% in 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 purchasing an additional 334,552 shares during the period. 89.24% of the stock is currently owned by institutional investors.
Elevance Health Stock Up 2.5 %
Elevance Health stock opened at $411.14 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm’s fifty day simple moving average is $386.21 and its 200-day simple moving average is $461.36. The company has a market capitalization of $95.35 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.11 and a beta of 0.84.
Elevance Health Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 23.77%.
Wall Street Analyst Weigh In
ELV has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada cut their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. TD Cowen reduced their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company lowered their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Stephens lowered shares of 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. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.
Get Our Latest Research Report on ELV
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.
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