Robeco Institutional Asset Management B.V. Decreases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Robeco Institutional Asset Management B.V. cut its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,315 shares of the company's stock after selling 12,810 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.05% of Elevance Health worth $51,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Wealthspire Advisors LLC lifted its stake in Elevance Health by 22.4% in the fourth quarter. Wealthspire Advisors LLC now owns 1,028 shares of the company's stock worth $379,000 after acquiring an additional 188 shares during the period. Crestwood Advisors Group LLC lifted its position in shares of Elevance Health by 26.9% in the 4th quarter. Crestwood Advisors Group LLC now owns 669 shares of the company's stock worth $247,000 after purchasing an additional 142 shares during the period. National Pension Service boosted its stake in shares of Elevance Health by 4.1% during the fourth quarter. National Pension Service now owns 493,614 shares of the company's stock valued at $182,094,000 after purchasing an additional 19,542 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in Elevance Health by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,710 shares of the company's stock valued at $1,000,000 after buying an additional 119 shares during the period. Finally, Convergence Financial LLC raised its stake in Elevance Health by 15.5% in the fourth quarter. Convergence Financial LLC now owns 1,271 shares of the company's stock worth $469,000 after buying an additional 171 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ELV. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Barclays reduced their target price on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. Guggenheim restated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Robert W. Baird reiterated a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $498.87.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Shares of ELV traded up $8.07 during trading hours on Friday, hitting $381.25. The stock had a trading volume of 1,774,243 shares, compared to its average volume of 1,578,161. The firm has a 50-day moving average price of $393.84 and a 200 day moving average price of $398.61. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The firm has a market capitalization of $86.14 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.95 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. Elevance Health's payout ratio is 26.69%.

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.