Metis Global Partners LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,446 shares of the company's stock after selling 1,618 shares during the quarter. Metis Global Partners LLC's holdings in Elevance Health were worth $3,854,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Lifeworks Advisors LLC increased its position in shares of Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock valued at $539,000 after purchasing an additional 25 shares during the last quarter. Fullcircle Wealth LLC increased its position in shares of Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock valued at $906,000 after purchasing an additional 26 shares during the last quarter. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Catalina Capital Group LLC increased its position in shares of Elevance Health by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company's stock valued at $861,000 after purchasing an additional 27 shares during the last quarter. Finally, Tobam increased its position in shares of Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on the stock. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Saturday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Finally, Truist Financial dropped their target price 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. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $517.03.
Read Our Latest Analysis on Elevance Health
Shares of NYSE:ELV opened at $397.09 on Friday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market cap of $90.28 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a fifty day moving average price of $387.78 and a 200 day moving average price of $439.07.
Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $3.84 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%. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.
The company 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 $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is 26.71%.
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.
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