Kovitz Investment Group Partners LLC Has $8.22 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Kovitz Investment Group Partners LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELVFree Report) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,874 shares of the company’s stock after selling 328 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Elevance Health were worth $8,218,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Elevance Health by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,341,458 shares of the company’s stock worth $1,923,163,000 after purchasing an additional 63,121 shares in the last quarter. Alliancebernstein L.P. grew its stake in Elevance Health by 13.1% during the second quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock worth $1,428,243,000 after buying an additional 372,937 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Elevance Health by 1.8% during the second quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock worth $1,396,583,000 after buying an additional 56,204 shares in the last quarter. Norges Bank bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $1,253,211,000. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Elevance Health by 7.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock worth $1,035,884,000 after acquiring an additional 160,524 shares in the last quarter. 87.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $547.00 price objective on shares of Elevance Health in a research report on Friday, February 2nd. Royal Bank of Canada lifted their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. decreased their price objective on shares of Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Morgan Stanley increased their price target on shares of Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $564.60.

Check Out Our Latest Stock Report on ELV

Elevance Health Trading Up 0.4 %

Shares of Elevance Health stock traded up $2.22 during trading on Friday, hitting $504.37. 297,666 shares of the company were exchanged, compared to its average volume of 1,180,791. The firm has a market capitalization of $118.53 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78. The firm’s fifty day moving average price is $478.49 and its 200 day moving average price is $464.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.41. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $504.38.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.29%. Elevance Health’s payout ratio is currently 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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