Elevance Health, Inc. (NYSE:ELV) Stake Cut by Bessemer Group Inc.

Bessemer Group Inc. reduced its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 62.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,750 shares of the company's stock after selling 243,785 shares during the period. Bessemer Group Inc. owned approximately 0.06% of Elevance Health worth $54,136,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new position in shares of Elevance Health during the fourth quarter worth $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health during the 4th quarter worth about $29,000. Lee Danner & Bass Inc. acquired a new position in Elevance Health in the 4th quarter valued at about $30,000. Finally, Crews Bank & Trust purchased a new stake in Elevance Health during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $2.31 on Tuesday, hitting $438.86. The company's stock had a trading volume of 327,970 shares, compared to its average volume of 1,436,763. The company has a market capitalization of $99.35 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a fifty day moving average price of $413.71 and a 200-day moving average price of $411.99. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

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

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. 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 1.56%. Elevance Health's payout ratio is 26.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ELV shares. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Truist Financial lifted their price objective on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday. Guggenheim began coverage on shares of Elevance Health in a research note on Wednesday, April 9th. They set a "buy" rating and a $518.00 target price on the stock. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $514.41.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 sale, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

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.