Hardman Johnston Global Advisors LLC Trims Stock Position in Elevance Health, Inc. (NYSE:ELV)

Hardman Johnston Global Advisors LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,020 shares of the company’s stock after selling 1,138 shares during the quarter. Hardman Johnston Global Advisors LLC’s holdings in Elevance Health were worth $7,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lifeworks Advisors LLC increased its holdings in Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after acquiring an additional 25 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after acquiring an additional 26 shares in the last quarter. Fullcircle Wealth LLC increased its holdings in Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after acquiring an additional 26 shares in the last quarter. Dunhill Financial LLC increased its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Finally, TCI Wealth Advisors Inc. increased its holdings in Elevance Health by 5.6% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock worth $263,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several analyst reports. StockNews.com lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Argus reaffirmed a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Stock Down 1.4 %

NYSE ELV opened at $385.04 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market capitalization of $87.54 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The stock has a 50 day moving average price of $385.25 and a 200-day moving average price of $443.22.

Elevance Health (NYSE:ELV) last issued its quarterly 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 return on equity of 18.28% and a net margin of 3.38%. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

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.