Elevance Health, Inc. (NYSE:ELV) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,105,757 shares of the company's stock after selling 400,813 shares during the quarter. Alliancebernstein L.P. owned 0.91% of Elevance Health worth $776,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ELV. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the third quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at $26,000. Dunhill Financial LLC increased its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health during the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the fourth quarter valued at $30,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

ELV traded down $3.32 on Wednesday, hitting $429.36. 1,156,250 shares of the company traded hands, compared to its average volume of 1,395,841. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a 50 day moving average of $406.34 and a 200-day moving average of $418.81. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $97.20 billion, a PE ratio of 16.77, a PEG ratio of 1.18 and a beta of 0.77.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.59%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is 26.71%.

Wall Street Analyst Weigh In

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. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Argus upgraded Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a report on Monday, March 17th. Finally, Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target of $519.81.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

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.