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

Hartford Investment Management Co. cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Certuity LLC increased its stake in shares of Elevance Health by 8.3% in the fourth quarter. Certuity LLC now owns 728 shares of the company’s stock valued at $269,000 after buying an additional 56 shares in the last quarter. Portfolio Design Labs LLC increased its stake in shares of Elevance Health by 37.6% in the fourth quarter. Portfolio Design Labs LLC now owns 8,403 shares of the company’s stock valued at $3,100,000 after buying an additional 2,296 shares in the last quarter. Quent Capital LLC boosted its holdings in Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after acquiring an additional 30 shares during the last quarter. Edmp Inc. boosted its holdings in Elevance Health by 1.7% in the fourth quarter. Edmp Inc. now owns 6,473 shares of the company’s stock valued at $2,388,000 after acquiring an additional 111 shares during the last quarter. Finally, Polaris Capital Management LLC boosted its holdings in Elevance Health by 0.5% in the fourth quarter. Polaris Capital Management LLC now owns 73,169 shares of the company’s stock valued at $26,992,000 after acquiring an additional 400 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. TD Cowen decreased their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Morgan Stanley decreased their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, thirteen have issued 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 price target of $517.03.

Elevance Health Trading Down 1.3 %

NYSE:ELV opened at $391.04 on Wednesday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week 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. The stock 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. The business’s 50-day simple moving average is $385.59 and its 200-day simple moving average is $452.12.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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%. Sell-side analysts expect that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

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

Elevance Health 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.