LGT Group Foundation Cuts Stock Position in Elevance Health, Inc. (NYSE:ELV)

LGT Group Foundation cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 41.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,664 shares of the company’s stock after selling 29,924 shares during the quarter. LGT Group Foundation’s holdings in Elevance Health were worth $15,739,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the third quarter valued at approximately $26,000. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health in the third quarter valued at approximately $44,000. Crews Bank & Trust purchased a new stake in shares of Elevance Health in the fourth quarter valued at approximately $34,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Elevance Health in the third quarter valued at approximately $52,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on ELV shares. Mizuho dropped their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Argus reiterated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

NYSE ELV opened at $397.09 on Monday. The stock has a market cap of $90.28 billion, a PE ratio of 15.51, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a fifty day simple moving average of $387.78 and a 200-day simple moving average of $438.36.

Elevance Health (NYSE:ELV) last released its quarterly 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 return on equity of 18.28% and a net margin of 3.38%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.72%. Elevance Health’s dividend payout ratio 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.