Impax Asset Management Group plc Acquires 291 Shares of Elevance Health, Inc. (NYSE:ELV)

Impax Asset Management Group plc raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,596 shares of the company’s stock after acquiring an additional 291 shares during the quarter. Impax Asset Management Group plc’s holdings in Elevance Health were worth $9,442,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ELV. Pathway Financial Advisers LLC boosted its position in Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after acquiring an additional 656,344 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after purchasing an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the period. Wellington Management Group LLP raised its holdings in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after purchasing an additional 286,905 shares during the period. Finally, World Investment Advisors LLC acquired a new position in shares of Elevance Health during the third quarter valued at about $129,221,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ELV shares. Barclays upped 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Down 0.0 %

Elevance Health stock opened at $384.91 on Tuesday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a 50 day moving average price of $385.48 and a 200-day moving average price of $442.23. The company has a market capitalization of $87.51 billion, a P/E ratio of 15.03, a P/E/G 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 earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health’s dividend payout ratio (DPR) is 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.