Savant Capital LLC Reduces Stake in Elevance Health, Inc. (NYSE:ELV)

Savant Capital LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 16.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,361 shares of the company’s stock after selling 1,255 shares during the quarter. Savant Capital LLC’s holdings in Elevance Health were worth $2,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in Elevance Health by 50.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock valued at $1,024,000 after acquiring an additional 664 shares during the last quarter. Sentry LLC grew its holdings in Elevance Health by 0.9% during the 3rd quarter. Sentry LLC now owns 3,209 shares of the company’s stock worth $1,669,000 after acquiring an additional 30 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in Elevance Health by 1.8% during the third quarter. SeaCrest Wealth Management LLC now owns 2,336 shares of the company’s stock valued at $1,215,000 after buying an additional 41 shares during the period. Sumitomo Life Insurance Co. increased its holdings in shares of Elevance Health by 2.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 2,264 shares of the company’s stock valued at $1,177,000 after acquiring an additional 61 shares during the period. Finally, Tamar Securities LLC raised its holdings in Elevance Health by 14.0% in the third quarter. Tamar Securities LLC now owns 31,372 shares of the company’s stock worth $16,314,000 after purchasing an additional 3,842 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $385.52 on Thursday. The stock has a market capitalization of $89.41 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a 50-day simple moving average of $385.25 and a 200-day simple moving average of $451.16. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. On average, equities analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.77%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 25.46%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. UBS Group cut their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.