Rhumbline Advisers Has $172.29 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Rhumbline Advisers cut its stake in Elevance Health, Inc. (NYSE:ELV) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 467,037 shares of the company’s stock after selling 12,731 shares during the period. Rhumbline Advisers owned 0.20% of Elevance Health worth $172,290,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Raelipskie Partnership bought a new position in shares of Elevance Health in the third quarter worth about $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health in the third quarter worth about $27,000. Eastern Bank bought a new position in shares of Elevance Health in the third quarter worth about $31,000. Dunhill Financial LLC raised its stake in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in shares of Elevance Health in the third quarter worth about $44,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ELV. TD Cowen dropped their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Morgan Stanley dropped their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Down 0.5 %

Elevance Health stock opened at $389.58 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a 50 day moving average of $384.93 and a 200-day moving average of $450.29. The stock has a market capitalization of $90.35 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.17 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 announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company 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. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) 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.