Allspring Global Investments Holdings LLC Has $6.78 Million Position in Elevance Health, Inc. $ELV

Allspring Global Investments Holdings LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,366 shares of the company’s stock after selling 1,935 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Elevance Health were worth $6,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Aspen Investment Management Inc lifted its stake in Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after purchasing an additional 27 shares during the last quarter. Nilsine Partners LLC raised its holdings in shares of Elevance Health by 1.5% during the 3rd quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after buying an additional 29 shares in the last quarter. Regatta Capital Group LLC lifted its position in shares of Elevance Health by 3.0% during the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after buying an additional 30 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in Elevance Health by 4.4% in the third quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock valued at $260,000 after buying an additional 31 shares in the last quarter. Finally, Accurate Wealth Management LLC grew its position in Elevance Health by 4.9% in the second quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock valued at $275,000 after acquiring an additional 33 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $371.62 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. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm has a market cap of $82.59 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.87 and a beta of 0.51. The firm’s fifty day moving average is $335.42 and its 200-day moving average is $328.04.

Elevance Health (NYSE:ELV) last announced its 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 business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.Elevance Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $8.37 EPS. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s payout ratio is currently 27.96%.

Analyst Ratings Changes

ELV has been the subject of several research analyst reports. Cowen reissued a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday, October 14th. Finally, Weiss Ratings lowered Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Hold” and an average target price of $397.79.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.