Arnhold LLC Acquires Shares of 7,899 Elevance Health, Inc. (NYSE:ELV)

Arnhold LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,899 shares of the company's stock, valued at approximately $2,914,000.

Several other large investors have also modified their holdings of the stock. Voya Financial Advisors Inc. raised its position in Elevance Health by 27.1% in the 4th quarter. Voya Financial Advisors Inc. now owns 8,595 shares of the company's stock valued at $3,169,000 after purchasing an additional 1,832 shares during the last quarter. Nebula Research & Development LLC raised its position in Elevance Health by 537.3% during the 4th quarter. Nebula Research & Development LLC now owns 5,213 shares of the company's stock worth $1,923,000 after buying an additional 4,395 shares during the last quarter. Van Den Berg Management I Inc. raised its position in Elevance Health by 43.0% during the 4th quarter. Van Den Berg Management I Inc. now owns 16,598 shares of the company's stock worth $6,123,000 after buying an additional 4,994 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Elevance Health by 7.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,045 shares of the company's stock worth $1,492,000 after buying an additional 289 shares during the last quarter. Finally, Burling Wealth Partners LLC purchased a new position in Elevance Health during the 4th quarter worth $2,782,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ELV shares. Royal Bank of Canada restated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a research report on Monday, March 17th. Guggenheim restated a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Mizuho upped their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $509.44.

Elevance Health Trading Down 2.0 %

Shares of Elevance Health stock traded down $8.27 during trading hours on Monday, reaching $413.41. 1,534,501 shares of the company's stock were exchanged, compared to its average volume of 1,460,436. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a market capitalization of $93.40 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a fifty day moving average of $420.00 and a 200-day moving average of $407.30. 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 Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company'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. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock valued at $3,521,612 in the last quarter. 0.29% of the stock is currently owned by company insiders.

About Elevance Health

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.