American Century Companies Inc. Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

American Century Companies Inc. trimmed its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,839 shares of the company's stock after selling 32,222 shares during the period. American Century Companies Inc.'s holdings in Elevance Health were worth $31,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ELV. Fisher Asset Management LLC boosted its position in Elevance Health by 3.8% in the 3rd quarter. Fisher Asset Management LLC now owns 838 shares of the company's stock worth $436,000 after purchasing an additional 31 shares in the last quarter. Townsquare Capital LLC lifted its holdings in Elevance Health by 6.3% in the third quarter. Townsquare Capital LLC now owns 8,727 shares of the company's stock valued at $4,538,000 after acquiring an additional 517 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Elevance Health by 12.3% during the third quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company's stock valued at $5,217,000 after acquiring an additional 1,100 shares during the last quarter. Financial Counselors Inc. boosted its position in shares of Elevance Health by 2.7% during the third quarter. Financial Counselors Inc. now owns 1,953 shares of the company's stock worth $1,016,000 after buying an additional 51 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of Elevance Health by 0.7% in the third quarter. Captrust Financial Advisors now owns 38,974 shares of the company's stock valued at $20,267,000 after purchasing an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

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Elevance Health Stock Down 0.8 %

Elevance Health stock traded down $3.32 during midday trading on Wednesday, hitting $429.36. 1,156,250 shares of the stock were exchanged, compared to its average volume of 1,394,186. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market capitalization of $97.20 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The business's 50-day moving average price is $407.13 and its 200-day moving average price is $418.89. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data 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 net margin of 3.38% and a return on equity of 18.28%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ELV. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target on the stock in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $519.81.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred 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 owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction 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 completion of the transaction, the executive vice president now 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. Company insiders own 0.35% of the company's stock.

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.