Robeco Institutional Asset Management B.V. Sells 76,916 Shares of Elevance Health, Inc. (NYSE:ELV)

Robeco Institutional Asset Management B.V. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 37.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,125 shares of the company’s stock after selling 76,916 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Elevance Health were worth $48,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ELV. R Squared Ltd bought a new stake in Elevance Health during the 4th quarter worth approximately $321,000. BSW Wealth Partners increased its position in shares of Elevance Health by 42.1% during the fourth quarter. BSW Wealth Partners now owns 709 shares of the company’s stock worth $262,000 after acquiring an additional 210 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Elevance Health by 11.9% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,490 shares of the company’s stock worth $1,656,000 after acquiring an additional 478 shares during the period. Tamar Securities LLC lifted its position in Elevance Health by 26.1% in the 4th quarter. Tamar Securities LLC now owns 39,556 shares of the company’s stock valued at $14,592,000 after acquiring an additional 8,184 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in Elevance Health by 83.7% in the 4th quarter. Perigon Wealth Management LLC now owns 4,095 shares of the company’s stock worth $1,578,000 after purchasing an additional 1,866 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELV. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday. TD Cowen reduced their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Raymond James set a $485.00 price objective on shares of Elevance Health in a report on Friday, October 18th. Morgan Stanley reduced their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Truist Financial lowered 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. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Down 1.2 %

ELV opened at $400.62 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $386.65 and its 200 day simple moving average is $459.57. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market cap of $92.91 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. As a group, research analysts expect that Elevance Health, Inc. will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 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.