APG Asset Management US Inc. boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 57.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,792 shares of the company's stock after purchasing an additional 1,752 shares during the quarter. APG Asset Management US Inc.'s holdings in Elevance Health were worth $1,768,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC grew its position in shares of Elevance Health by 8.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,042 shares of the company's stock valued at $1,062,000 after acquiring an additional 160 shares during the period. Zacks Investment Management purchased a new position in Elevance Health in the third quarter worth approximately $511,000. Nomura Asset Management Co. Ltd. boosted its holdings in Elevance Health by 3.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 74,990 shares of the company's stock valued at $38,995,000 after purchasing an additional 2,664 shares in the last quarter. Groupama Asset Managment increased its holdings in shares of Elevance Health by 91.4% in the 3rd quarter. Groupama Asset Managment now owns 13,440 shares of the company's stock valued at $70,000 after acquiring an additional 6,419 shares during the period. Finally, Continuum Advisory LLC boosted its holdings in Elevance Health by 17.3% in the 3rd quarter. Continuum Advisory LLC now owns 700 shares of the company's stock valued at $364,000 after purchasing an additional 103 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly 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. Company insiders own 0.35% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday. Mizuho increased their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price on the stock in a research report on Monday, March 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $521.47.
View Our Latest Stock Analysis on ELV
Elevance Health Price Performance
Shares of NYSE ELV traded down $1.67 during mid-day trading on Monday, reaching $438.14. The company's stock had a trading volume of 333,953 shares, compared to its average volume of 1,438,471. The stock has a 50-day moving average of $412.93 and a two-hundred day moving average of $412.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $99.19 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.18 and a beta of 0.77. 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 posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate 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 research analysts anticipate 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 was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a dividend of $1.71 per share. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.71%.
About Elevance Health
(
Free Report)
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.
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