QRG Capital Management Inc. Has $22.43 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

QRG Capital Management Inc. cut its stake in Elevance Health, Inc. (NYSE:ELV) by 26.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,813 shares of the company’s stock after selling 21,580 shares during the period. QRG Capital Management Inc.’s holdings in Elevance Health were worth $22,434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter valued at $26,000. Crews Bank & Trust acquired a new position in shares of Elevance Health during the 4th quarter worth $34,000. Dunhill Financial LLC raised its holdings in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Elevance Health during the 3rd quarter worth $44,000. Finally, Financial Perspectives Inc acquired a new position in Elevance Health in the 4th quarter worth about $50,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELV has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

Shares of NYSE ELV opened at $386.22 on Thursday. The firm has a market cap of $87.81 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth 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 stock has a fifty day simple moving average of $386.62 and a two-hundred day simple moving average of $440.93. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.77%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Elevance Health Company 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.