Hosking Partners LLP Sells 10,018 Shares of Elevance Health, Inc. (NYSE:ELV)

Hosking Partners LLP reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,237 shares of the company’s stock after selling 10,018 shares during the period. Hosking Partners LLP’s holdings in Elevance Health were worth $28,862,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp increased its holdings in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after purchasing an additional 129,709 shares during the last quarter. Geode Capital Management LLC grew its holdings in Elevance Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares in the last quarter. Sanders Capital LLC increased its stake in Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after acquiring an additional 44,805 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after acquiring an additional 334,552 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV opened at $393.42 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $387.15 and its 200-day simple moving average is $440.60. The company has a market capitalization of $89.45 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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%. On average, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 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 given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ELV shares. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Company 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.