Sapient Capital LLC Trims Stock Position in Elevance Health, Inc. (NYSE:ELV)

Sapient Capital LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,621 shares of the company’s stock after selling 631 shares during the period. Sapient Capital LLC’s holdings in Elevance Health were worth $1,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lifeworks Advisors LLC raised its stake in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after acquiring an additional 25 shares during the last quarter. Catalyst Financial Partners LLC increased its position in Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after purchasing an additional 26 shares during the period. Fullcircle Wealth LLC increased its position in Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after purchasing an additional 26 shares during the period. Dunhill Financial LLC increased its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Finally, TCI Wealth Advisors Inc. increased its position in Elevance Health by 5.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock worth $263,000 after purchasing an additional 27 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Royal Bank of Canada dropped their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. TD Cowen dropped their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $391.04 on Wednesday. The business’s fifty day moving average price is $385.59 and its two-hundred day moving average price is $452.12. The stock has a market cap 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 company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. 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 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.