Capital Fund Management S.A. acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 62,742 shares of the company's stock, valued at approximately $23,146,000.
A number of other institutional investors have also recently made changes to their positions in the company. Scotia Capital Inc. boosted its holdings in Elevance Health by 17.1% in the fourth quarter. Scotia Capital Inc. now owns 24,491 shares of the company's stock worth $9,035,000 after acquiring an additional 3,583 shares in the last quarter. Phoenix Financial Ltd. raised its holdings in shares of Elevance Health by 10.3% during the fourth quarter. Phoenix Financial Ltd. now owns 1,110 shares of the company's stock valued at $410,000 after acquiring an additional 104 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of Elevance Health by 537.6% during the 4th quarter. CenterBook Partners LP now owns 36,712 shares of the company's stock worth $13,543,000 after purchasing an additional 30,954 shares during the last quarter. APG Asset Management US Inc. grew its holdings in shares of Elevance Health by 57.6% in the fourth quarter. APG Asset Management US Inc. now owns 4,792 shares of the company's stock valued at $1,768,000 after purchasing an additional 1,752 shares during the period. Finally, Texas Yale Capital Corp. grew its position in Elevance Health by 9.8% in the fourth quarter. Texas Yale Capital Corp. now owns 1,175 shares of the company's stock worth $433,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.
Insider Activity at Elevance Health
In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health 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 owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on ELV shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Barclays boosted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average price target of $514.41.
Check Out Our Latest Research Report on Elevance Health
Elevance Health Price Performance
NYSE ELV traded up $0.98 during midday trading on Wednesday, hitting $438.75. The company had a trading volume of 368,972 shares, compared to its average volume of 1,437,126. The firm has a 50-day moving average price of $414.67 and a 200-day moving average price of $412.17. The company has a market capitalization of $99.33 billion, a PE ratio of 17.13, a P/E/G ratio of 1.18 and a beta of 0.77. 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, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.
Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.
Elevance Health Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.56%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is 26.71%.
Elevance Health Profile
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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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