Yacktman Asset Management LP Has $126.18 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Yacktman Asset Management LP cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 342,033 shares of the company’s stock after selling 1,105 shares during the period. Elevance Health accounts for 1.5% of Yacktman Asset Management LP’s holdings, making the stock its 29th largest position. Yacktman Asset Management LP owned about 0.15% of Elevance Health worth $126,176,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC bought a new position in Elevance Health during the 3rd quarter worth $27,000. Eastern Bank acquired a new position in Elevance Health in the 3rd quarter valued at $31,000. Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter valued at $34,000. Finally, Dunhill Financial LLC grew its holdings in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of recent analyst reports. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Argus restated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. UBS Group lowered their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Stephens cut 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 report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Up 1.3 %

ELV opened at $396.34 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market capitalization of $91.92 billion, a P/E ratio of 15.48, a PEG ratio of 1.17 and a beta of 0.83. The company’s 50-day moving average is $385.87 and its 200 day moving average is $452.95. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Research analysts expect that Elevance Health, Inc. will post 34.05 earnings per share 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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.73%. 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 is 25.46%.

About Elevance Health

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.