Bryn Mawr Capital Management LLC Acquires 95,846 Shares of Elevance Health, Inc. (NYSE:ELV)

Bryn Mawr Capital Management LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 4,275.0% in the fourth quarter, HoldingsChannel reports. The firm owned 98,088 shares of the company’s stock after purchasing an additional 95,846 shares during the period. Elevance Health makes up about 1.4% of Bryn Mawr Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Bryn Mawr Capital Management LLC’s holdings in Elevance Health were worth $36,185,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its holdings in Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after purchasing an additional 129,709 shares in the last quarter. Geode Capital Management LLC increased its holdings in Elevance Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after purchasing an additional 85,770 shares in the last quarter. Sanders Capital LLC increased its holdings in Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after purchasing an additional 44,805 shares in the last quarter. Wellington Management Group LLP increased its holdings in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 1.7 %

ELV stock opened at $382.46 on Wednesday. The stock’s fifty day simple moving average is $384.81 and its two-hundred day simple moving average is $446.05. 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 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market cap of $88.70 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts expect that Elevance Health, Inc. will post 34 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.79%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research analyst reports. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company decreased their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Morgan Stanley decreased their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.