Elevance Health, Inc. (NYSE:ELV) is Hosking Partners LLP’s 9th Largest Position

Hosking Partners LLP lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 20.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,737 shares of the company’s stock after acquiring an additional 20,267 shares during the quarter. Elevance Health accounts for about 2.3% of Hosking Partners LLP’s investment portfolio, making the stock its 9th biggest position. Hosking Partners LLP owned approximately 0.05% of Elevance Health worth $52,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BDO Wealth Advisors LLC increased its holdings in Elevance Health by 266.7% in the second quarter. BDO Wealth Advisors LLC now owns 55 shares of the company’s stock valued at $25,000 after buying an additional 40 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Elevance Health during the third quarter valued at approximately $25,000. Fortis Capital Advisors LLC bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Elevance Health during the third quarter valued at approximately $30,000. Finally, TD Capital Management LLC bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $30,000. 87.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ELV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $547.00 target price on shares of Elevance Health in a report on Friday. Morgan Stanley upped their target price on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. reduced their price objective on Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a research report on Friday, November 17th. Finally, Royal Bank of Canada boosted their price objective on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $564.60.

View Our Latest Stock Report on Elevance Health

Elevance Health Price Performance

ELV traded down $5.07 during trading on Monday, reaching $490.05. The stock had a trading volume of 308,481 shares, compared to its average volume of 1,234,012. The firm has a market capitalization of $115.16 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $501.78. The stock has a 50 day moving average of $476.77 and a two-hundred day moving average of $463.78.

Elevance Health (NYSE:ELVGet Free Report) last released its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. During the same period in the prior year, the firm posted $5.23 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.14 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio is 23.52%.

Elevance Health Company Profile

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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