Sapient Capital LLC Trims Position in Elevance Health, Inc. (NYSE:ELV)

Sapient Capital LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,621 shares of the company’s stock after selling 631 shares during the quarter. Sapient Capital LLC’s holdings in Elevance Health were worth $1,336,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ELV. Raelipskie Partnership purchased a new position in shares of Elevance Health during the 3rd quarter worth $26,000. PSI Advisors LLC purchased a new position in shares of Elevance Health during the 3rd quarter worth $27,000. Eastern Bank purchased a new position in shares of Elevance Health during the 3rd quarter worth $31,000. Crews Bank & Trust purchased a new position in shares of Elevance Health during the 4th quarter worth $34,000. Finally, Dunhill Financial LLC lifted its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.3 %

Shares of NYSE ELV opened at $391.04 on Wednesday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a market cap of $90.69 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.17 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. The stock has a fifty day moving average price of $385.59 and a 200 day moving average price of $452.12.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. Research analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.