Elevance Health, Inc. (NYSE:ELV) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 54.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,912 shares of the company's stock after purchasing an additional 4,535 shares during the period. Advisors Asset Management Inc.'s holdings in Elevance Health were worth $4,763,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its stake in shares of Elevance Health by 48.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,509 shares of the company's stock valued at $557,000 after buying an additional 490 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of Elevance Health by 7.9% during the 4th quarter. Tocqueville Asset Management L.P. now owns 9,171 shares of the company's stock worth $3,383,000 after purchasing an additional 670 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health during the 4th quarter worth $26,000. Cibc World Markets Corp grew its stake in shares of Elevance Health by 16.0% during the 4th quarter. Cibc World Markets Corp now owns 36,570 shares of the company's stock worth $13,491,000 after purchasing an additional 5,035 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Elevance Health by 21.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 676 shares of the company's stock valued at $249,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Remove Ads

Insider Activity at Elevance Health

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

Elevance Health Stock Up 0.1 %

ELV stock traded up $0.43 during trading on Monday, reaching $427.62. The stock had a trading volume of 972,096 shares, compared to its average volume of 1,319,389. The firm has a fifty day moving average price of $400.52 and a 200 day moving average price of $424.46. 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 capitalization of $97.22 billion, a P/E ratio of 16.70, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued 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%. On average, equities 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 declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is 26.71%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ELV shares. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Truist Financial lowered 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 boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price on the stock in a report on Monday, March 17th. Finally, Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $519.81.

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.