River Road Asset Management LLC Has $42.63 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

River Road Asset Management LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,557 shares of the company’s stock after purchasing an additional 10,216 shares during the period. River Road Asset Management LLC’s holdings in Elevance Health were worth $42,629,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter worth approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the fourth quarter worth approximately $29,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health during the fourth quarter worth approximately $34,000. Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ELV shares. Argus reaffirmed a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Finally, Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Up 0.0 %

Shares of NYSE ELV opened at $409.46 on Tuesday. The company’s fifty day moving average is $391.45 and its 200-day moving average is $432.42. The stock has a market cap of $93.09 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86. 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.

Elevance Health (NYSE:ELV) last announced 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 net margin of 3.38% and a return on equity of 18.28%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 dividend yield of 1.67%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

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.