LGT Fund Management Co Ltd. Sells 4,006 Shares of Elevance Health, Inc. (NYSE:ELV)

LGT Fund Management Co Ltd. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 46.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,700 shares of the company’s stock after selling 4,006 shares during the period. LGT Fund Management Co Ltd.’s holdings in Elevance Health were worth $1,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Elevance Health by 26.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,523 shares of the company’s stock worth $792,000 after buying an additional 317 shares in the last quarter. Optas LLC lifted its stake in Elevance Health by 10.6% in the third quarter. Optas LLC now owns 450 shares of the company’s stock worth $234,000 after acquiring an additional 43 shares during the period. Van ECK Associates Corp raised its holdings in shares of Elevance Health by 4.1% in the 3rd quarter. Van ECK Associates Corp now owns 12,782 shares of the company’s stock valued at $6,647,000 after purchasing an additional 507 shares in the last quarter. BSW Wealth Partners purchased a new stake in shares of Elevance Health in the 3rd quarter worth approximately $259,000. Finally, Forum Financial Management LP boosted its stake in shares of Elevance Health by 4.3% during the third quarter. Forum Financial Management LP now owns 2,826 shares of the company’s stock valued at $1,470,000 after purchasing an additional 117 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Truist Financial reduced their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Finally, 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 research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Trading Down 0.3 %

NYSE ELV opened at $395.63 on Tuesday. 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 moving average price of $388.27 and a 200 day moving average price of $437.33. The stock has a market capitalization of $89.95 billion, a P/E ratio of 15.45, 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 issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS 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%. Equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. 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 1.73%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 26.71%.

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.