Bailard Inc. Has $619,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Bailard Inc. lowered its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 73.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,677 shares of the company's stock after selling 4,609 shares during the period. Bailard Inc.'s holdings in Elevance Health were worth $619,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ELV. Lifeworks Advisors LLC boosted its stake in Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock worth $539,000 after purchasing an additional 25 shares during the period. Dunhill Financial LLC lifted its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Catalina Capital Group LLC boosted its position in shares of Elevance Health by 1.7% in the third quarter. Catalina Capital Group LLC now owns 1,656 shares of the company's stock worth $861,000 after buying an additional 27 shares during the period. Tobam grew its holdings in shares of Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after buying an additional 27 shares in the last quarter. Finally, Jacobi Capital Management LLC raised its position in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Performance

NYSE ELV traded up $4.54 during trading on Thursday, hitting $402.01. The company's stock had a trading volume of 598,376 shares, compared to its average volume of 1,585,785. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. 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 firm has a market cap of $91.40 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The firm has a 50 day moving average price of $389.26 and a 200 day moving average price of $436.03.

Elevance Health (NYSE:ELV - Get Free Report) last released 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 net margin of 3.38% and a return on equity of 18.28%. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio is presently 26.71%.

Analysts Set New Price Targets

Several research firms have weighed in on ELV. Truist Financial lowered their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Saturday, March 1st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Stephens cut shares of 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. Finally, Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and an average target price of $517.03.

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.