Hardman Johnston Global Advisors LLC Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Hardman Johnston Global Advisors LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,020 shares of the company’s stock after selling 1,138 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Elevance Health were worth $7,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. Eastern Bank purchased a new stake in Elevance Health in the third quarter worth $31,000. Dakota Wealth Management increased its stake in shares of Elevance Health by 12.9% during the third quarter. Dakota Wealth Management now owns 1,068 shares of the company’s stock valued at $555,000 after buying an additional 122 shares during the period. Mediolanum International Funds Ltd increased its stake in shares of Elevance Health by 56.5% during the third quarter. Mediolanum International Funds Ltd now owns 8,328 shares of the company’s stock valued at $4,356,000 after buying an additional 3,007 shares during the period. Joel Isaacson & Co. LLC increased its stake in shares of Elevance Health by 9.0% during the third quarter. Joel Isaacson & Co. LLC now owns 1,243 shares of the company’s stock valued at $646,000 after buying an additional 103 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Elevance Health by 6.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,882 shares of the company’s stock valued at $18,275,000 after buying an additional 2,176 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Down 1.4 %

Elevance Health stock opened at $385.04 on Monday. 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, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a market capitalization of $87.54 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The stock has a 50-day moving average price of $385.25 and a 200 day moving average price of $443.22.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 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%. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. 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 1.78%. Elevance Health’s payout ratio is 26.71%.

About Elevance Health

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.