Convergence Investment Partners LLC Sells 101 Shares of Elevance Health, Inc. (NYSE:ELV)

Convergence Investment Partners LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 577 shares of the company’s stock after selling 101 shares during the quarter. Convergence Investment Partners LLC’s holdings in Elevance Health were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raelipskie Partnership bought a new stake in Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter valued at about $27,000. Eastern Bank bought a new stake in shares of Elevance Health in the 3rd quarter valued at about $31,000. Crews Bank & Trust bought a new stake in shares of Elevance Health in the 4th quarter valued at about $34,000. Finally, Dunhill Financial LLC increased its stake 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 acquiring an additional 26 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley lowered their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Up 2.5 %

NYSE:ELV opened at $391.86 on Thursday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $384.93 and a two-hundred day moving average price of $445.67. The company has a market cap of $90.88 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. As a group, analysts expect that Elevance Health, Inc. will post 34 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business 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 $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is presently 25.46%.

About Elevance Health

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.