TCW Group Inc. Has $22.29 Million Position in Elevance Health, Inc. (NYSE:ELV)

TCW Group Inc. lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 40.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 60,429 shares of the company’s stock after selling 41,211 shares during the quarter. TCW Group Inc.’s holdings in Elevance Health were worth $22,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Fisher Funds Management LTD acquired a new stake in Elevance Health during the fourth quarter worth $8,820,000. Callan Capital LLC lifted its holdings in shares of Elevance Health by 50.8% during the fourth quarter. Callan Capital LLC now owns 1,262 shares of the company’s stock valued at $466,000 after acquiring an additional 425 shares during the period. Oxbow Advisors LLC lifted its holdings in shares of Elevance Health by 11.0% during the fourth quarter. Oxbow Advisors LLC now owns 11,573 shares of the company’s stock valued at $4,269,000 after acquiring an additional 1,147 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in shares of Elevance Health by 9.2% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 489 shares of the company’s stock valued at $180,000 after acquiring an additional 41 shares during the period. Finally, Dahring Cusmano LLC bought a new position in shares of Elevance Health during the fourth quarter valued at $377,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ELV. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Argus reissued a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $385.04 on Friday. The stock has a market capitalization of $89.30 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $385.25 and a two-hundred day moving average price of $443.77.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed 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 is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is currently 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.