1,090 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,090 shares of the company's stock, valued at approximately $402,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mutual Advisors LLC raised its position in Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank increased its stake in shares of Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after buying an additional 3,049 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock valued at $27,858,000 after buying an additional 50,603 shares during the last quarter. Diversified Trust Co lifted its position in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company's stock worth $8,328,000 after buying an additional 2,725 shares in the last quarter. Finally, JB Capital LLC grew its holdings in Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock worth $3,462,000 after acquiring an additional 8,038 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Barclays upped their price objective 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 lowered their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and an average target price of $519.81.

Elevance Health Trading Down 1.0 %

NYSE ELV traded down $4.20 during trading on Tuesday, reaching $423.03. 1,309,735 shares of the stock traded hands, compared to its average volume of 1,319,262. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two 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 $96.18 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The stock's 50-day moving average price is $401.13 and its 200 day moving average price is $423.64.

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%. Analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.62%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is currently 26.71%.

Elevance Health Company 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.