QRG Capital Management Inc. Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

QRG Capital Management Inc. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 26.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 60,813 shares of the company’s stock after selling 21,580 shares during the period. QRG Capital Management Inc.’s holdings in Elevance Health were worth $22,434,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mutual Advisors LLC boosted its position in Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after acquiring an additional 52 shares in the last quarter. Czech National Bank raised its holdings in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after acquiring an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT raised its holdings in Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after acquiring an additional 3,786 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after acquiring an additional 50,603 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after acquiring an additional 2,725 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 3.9 %

ELV opened at $386.22 on Thursday. The firm has a 50-day simple moving average of $386.62 and a two-hundred day simple moving average of $440.93. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a market capitalization of $87.81 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. 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 quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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%. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.77%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elevance Health currently has a consensus 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.