Manning & Napier Advisors LLC Invests $3.37 Million in Elevance Health, Inc. (NYSE:ELV)

Manning & Napier Advisors LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,146 shares of the company’s stock, valued at approximately $3,374,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Cypress Wealth Services LLC grew its position in shares of Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after acquiring an additional 23 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after purchasing an additional 25 shares during the period. Lifeworks Advisors LLC increased its stake in Elevance Health by 2.5% during the third 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. Catalyst Financial Partners LLC raised its holdings in shares of Elevance Health by 2.9% during the third 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. Finally, Fullcircle Wealth LLC lifted 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 worth $906,000 after buying an additional 26 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ELV. Argus reaffirmed a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research report on Wednesday. UBS Group lowered their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Mizuho cut their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company reduced 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. Finally, StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Price Performance

NYSE ELV opened at $400.62 on Thursday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market capitalization of $92.91 billion, a PE ratio of 14.61, a P/E/G ratio of 1.11 and a beta of 0.84. The company’s 50 day simple moving average is $386.65 and its 200 day simple moving average is $459.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, equities research analysts forecast that Elevance Health, Inc. will post 32.95 EPS 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 paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.71%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

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.