KBC Group NV Purchases 192,156 Shares of Elevance Health, Inc. (NYSE:ELV)

KBC Group NV lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 69.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 467,711 shares of the company’s stock after buying an additional 192,156 shares during the period. KBC Group NV’s holdings in Elevance Health were worth $172,538,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ELV. State Street Corp lifted its holdings in shares of Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after acquiring an additional 129,709 shares during the last quarter. Geode Capital Management LLC boosted its position in Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares during the period. Sanders Capital LLC increased its holdings in shares of Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after buying an additional 44,805 shares during the period. Wellington Management Group LLP boosted its holdings in Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after acquiring an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $401.43 on Monday. The firm has a market cap of $93.10 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84. The firm has a fifty day moving average price of $386.21 and a 200 day moving average price of $461.87. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate 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, sell-side analysts expect that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal 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 paid a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. Elevance Health’s payout ratio is presently 23.77%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ELV shares. TD Cowen lowered their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Finally, Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $525.60.

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.