Hartford Investment Management Co. Has $5.28 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Hartford Investment Management Co. lessened its position in Elevance Health, Inc. (NYSE:ELV) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,318 shares of the company’s stock after selling 277 shares during the quarter. Hartford Investment Management Co.’s holdings in Elevance Health were worth $5,282,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. Mutual Advisors LLC increased its position in shares of Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank increased its position in shares of Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after purchasing an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT increased its position in shares of Elevance Health by 10.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after purchasing an additional 50,603 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELV. Truist Financial lowered their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley lowered their price target 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. Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

ELV opened at $391.04 on Wednesday. The business has a fifty day simple moving average of $385.59 and a 200 day simple moving average of $452.12. The company has a market capitalization of $90.69 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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 expect that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. 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. Elevance Health’s dividend payout ratio is presently 25.46%.

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.