Allspring Global Investments Holdings LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV – Get Rating) by 5.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 160,052 shares of the company’s stock after selling 10,056 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Elevance Health worth $73,594,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at about $25,000. Crewe Advisors LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at about $25,000. Hexagon Capital Partners LLC bought a new stake in Elevance Health during the 4th quarter valued at approximately $26,000. Destiny Wealth Partners LLC bought a new stake in Elevance Health during the 4th quarter valued at approximately $26,000. Finally, Sugarloaf Wealth Management LLC bought a new stake in Elevance Health during the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 88.30% of the company’s stock.
Analyst Ratings Changes
ELV has been the subject of several recent analyst reports. Truist Financial decreased their target price on Elevance Health from $580.00 to $560.00 in a research note on Tuesday, June 20th. Deutsche Bank Aktiengesellschaft increased their target price on Elevance Health from $571.00 to $575.00 in a research note on Thursday, April 20th. Royal Bank of Canada upgraded Elevance Health from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $523.00 to $572.00 in a research note on Tuesday, March 28th. 22nd Century Group restated an “upgrade” rating on shares of Elevance Health in a research note on Thursday, April 27th. Finally, Wells Fargo & Company reduced their price objective on Elevance Health from $597.00 to $561.00 in a research report on Monday, April 24th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $569.27.
Elevance Health Trading Up 0.1 %
Elevance Health (NYSE:ELV – Get Rating) last issued its earnings results on Wednesday, April 19th. The company reported $9.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.26 by $0.20. Elevance Health had a return on equity of 20.05% and a net margin of 3.86%. The business had revenue of $41.90 billion during the quarter, compared to analysts’ expectations of $40.93 billion. During the same period in the prior year, the firm posted $8.25 EPS. Elevance Health’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Elevance Health, Inc. will post 32.78 EPS for the current fiscal year.
Elevance Health Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.31%. Elevance Health’s dividend payout ratio is 23.04%.
Elevance Health Profile
Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.
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