Elevance Health, Inc. (NYSE:ELV) Stock Holdings Lessened by TCW Group Inc.

TCW Group Inc. trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 40.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,429 shares of the company’s stock after selling 41,211 shares during the quarter. TCW Group Inc.’s holdings in Elevance Health were worth $22,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ELV. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the third quarter worth approximately $26,000. Eastern Bank bought a new position in Elevance Health during the third quarter valued at approximately $31,000. Crews Bank & Trust bought a new position in Elevance Health during the fourth quarter valued at approximately $34,000. Dunhill Financial LLC raised its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new position in Elevance Health during the third quarter valued at approximately $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 1.4 %

Shares of Elevance Health stock opened at $385.04 on Friday. The company’s fifty day simple moving average is $385.25 and its 200-day simple moving average is $443.77. The company has a market cap of $89.30 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. 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.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. As a group, sell-side 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 $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ELV shares. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus reaffirmed a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Truist Financial cut their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

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.