AGF Management Ltd. Purchases 924 Shares of Elevance Health, Inc. (NYSE:ELV)

AGF Management Ltd. grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,782 shares of the company's stock after purchasing an additional 924 shares during the period. AGF Management Ltd.'s holdings in Elevance Health were worth $3,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp increased its holdings in shares of Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company's stock worth $5,557,759,000 after purchasing an additional 129,709 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Elevance Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock worth $2,511,814,000 after acquiring an additional 85,770 shares during the period. Sanders Capital LLC grew its holdings in shares of Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock worth $2,396,814,000 after acquiring an additional 44,805 shares during the period. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock worth $1,246,574,000 after acquiring an additional 334,552 shares during the period. Institutional investors own 89.24% of the company's stock.

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Analyst Ratings Changes

Several analysts recently commented on ELV shares. StockNews.com lowered Elevance Health from a "buy" rating to a "hold" rating in a report on Wednesday. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus reaffirmed a "hold" rating and issued a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and an average target price of $517.03.

Insider Buying and Selling at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded up $6.73 during mid-day trading on Thursday, reaching $417.77. The stock had a trading volume of 1,753,368 shares, compared to its average volume of 1,663,187. 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 $94.98 billion, a P/E ratio of 16.31, a price-to-earnings-growth 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. The business's 50 day moving average price is $394.44 and its 200 day moving average price is $431.33.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. Research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed 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. 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.64%. Elevance Health's dividend payout ratio is 26.71%.

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.