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

Ninety One SA PTY Ltd reduced its position in Elevance Health, Inc. (NYSE:ELV) by 67.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,674 shares of the company’s stock after selling 11,554 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Elevance Health were worth $2,093,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ELV. Czech National Bank lifted its position in Elevance Health by 6.7% in the third quarter. Czech National Bank now owns 47,237 shares of the company’s stock valued at $24,563,000 after purchasing an additional 2,947 shares during the period. GAMMA Investing LLC raised its stake in shares of Elevance Health by 19.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock worth $1,611,000 after buying an additional 502 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Elevance Health by 4.0% in the third quarter. Miracle Mile Advisors LLC now owns 1,442 shares of the company’s stock valued at $750,000 after buying an additional 56 shares in the last quarter. Axiom Advisory LLC grew its holdings in Elevance Health by 1.6% during the third quarter. Axiom Advisory LLC now owns 8,000 shares of the company’s stock worth $4,274,000 after acquiring an additional 125 shares during the period. Finally, Insight Wealth Strategies LLC raised its position in Elevance Health by 2.1% in the third quarter. Insight Wealth Strategies LLC now owns 3,083 shares of the company’s stock worth $1,603,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $402.29 on Wednesday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a market cap of $93.30 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The company’s 50-day moving average is $386.45 and its two-hundred day moving average is $456.00. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 25.46%.

Analyst Ratings Changes

Several brokerages have commented on ELV. UBS Group decreased their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Finally, Royal Bank of Canada reduced their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.