Pecaut & CO. Takes Position in Elevance Health, Inc. (NYSE:ELV)

Pecaut & CO. acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 700 shares of the company's stock, valued at approximately $258,000.

Several other institutional investors have also modified their holdings of ELV. Whittier Trust Co. of Nevada Inc. lifted its position in Elevance Health by 4.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 36,806 shares of the company's stock worth $13,577,000 after buying an additional 1,446 shares during the last quarter. Northwest & Ethical Investments L.P. raised its holdings in shares of Elevance Health by 69.3% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 27,043 shares of the company's stock worth $9,976,000 after buying an additional 11,066 shares during the period. Blueshift Asset Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $402,000. Royal London Asset Management Ltd. lifted its stake in shares of Elevance Health by 0.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 231,309 shares of the company's stock worth $85,330,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Generali Investments Management Co LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at $665,000. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ELV. Barclays lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target on the stock in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average price target of $519.81.

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Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Down 1.0 %

Shares of ELV stock traded down $4.20 during trading hours on Tuesday, reaching $423.03. 1,309,735 shares of the company's stock were exchanged, compared to its average volume of 1,319,262. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock's 50 day moving average is $401.13 and its 200-day moving average is $423.64. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company has a market cap of $96.18 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Monday, March 10th. 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 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.