Elevance Health, Inc. (NYSE:ELV) Shares Sold by Savant Capital LLC

Savant Capital LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 16.5% during the fourth quarter, HoldingsChannel reports. The fund owned 6,361 shares of the company’s stock after selling 1,255 shares during the period. Savant Capital LLC’s holdings in Elevance Health were worth $2,346,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its stake in shares of Elevance Health by 50.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock valued at $1,024,000 after purchasing an additional 664 shares during the last quarter. Sentry LLC raised its holdings in Elevance Health by 0.9% in the 3rd quarter. Sentry LLC now owns 3,209 shares of the company’s stock valued at $1,669,000 after buying an additional 30 shares during the period. SeaCrest Wealth Management LLC lifted its position in Elevance Health by 1.8% in the third quarter. SeaCrest Wealth Management LLC now owns 2,336 shares of the company’s stock valued at $1,215,000 after buying an additional 41 shares during the last quarter. Sumitomo Life Insurance Co. boosted its stake in Elevance Health by 2.8% during the third quarter. Sumitomo Life Insurance Co. now owns 2,264 shares of the company’s stock worth $1,177,000 after buying an additional 61 shares during the period. Finally, Tamar Securities LLC increased its position in shares of Elevance Health by 14.0% during the third quarter. Tamar Securities LLC now owns 31,372 shares of the company’s stock valued at $16,314,000 after acquiring an additional 3,842 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TD Cowen lowered their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Finally, Barclays boosted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Price Performance

Elevance Health stock opened at $385.52 on Thursday. 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 company has a fifty day simple moving average of $385.25 and a 200-day simple moving average of $451.16. The stock has a market cap of $89.41 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.17 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 announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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 expect that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 25.46%.

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.