6,927 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Allstate Corp

Allstate Corp acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,927 shares of the company's stock, valued at approximately $2,555,000.

A number of other institutional investors have also made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $29,000. Lee Danner & Bass Inc. bought a new stake in Elevance Health during the fourth quarter worth about $30,000. Finally, Crews Bank & Trust acquired a new position in Elevance Health during the fourth quarter valued at approximately $34,000. Institutional investors own 89.24% of the company's stock.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction on 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 owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

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Elevance Health Stock Performance

NYSE ELV traded up $12.07 during trading on Thursday, reaching $441.40. The company's stock had a trading volume of 1,064,202 shares, compared to its average volume of 1,393,347. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a 50 day moving average price of $407.13 and a 200 day moving average price of $418.89. The firm has a market capitalization of $99.93 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a dividend of $1.71 per share. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.55%. Elevance Health's dividend payout ratio is currently 26.71%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ELV. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. 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 research report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Wells Fargo & Company reduced their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $519.81.

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.