Rockefeller Capital Management L.P. Acquires 1,676 Shares of Elevance Health, Inc. $ELV

Rockefeller Capital Management L.P. increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.6% during the second quarter, HoldingsChannel reports. The fund owned 48,555 shares of the company’s stock after acquiring an additional 1,676 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Elevance Health were worth $18,887,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ELV. WPG Advisers LLC bought a new stake in Elevance Health during the 1st quarter worth approximately $29,000. BOK Financial Private Wealth Inc. bought a new position in shares of Elevance Health in the second quarter valued at approximately $32,000. Saudi Central Bank purchased a new position in shares of Elevance Health during the first quarter valued at approximately $40,000. Glass Jacobson Investment Advisors llc boosted its position in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in Elevance Health during the second quarter worth $43,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $324.64 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $72.15 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm’s 50-day simple moving average is $330.37 and its two-hundred day simple moving average is $339.63.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $8.37 EPS. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial set a $400.00 price objective on Elevance Health in a research note on Tuesday, October 14th. Mizuho lowered their target price on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Wells Fargo & Company dropped their price target on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Sanford C. Bernstein cut their price target on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Finally, UBS Group reduced their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Hold” and a consensus target price of $397.33.

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.