Capital International Investors Grows Position in Elevance Health, Inc. (NYSE:ELV)

Capital International Investors raised its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,880,630 shares of the company's stock after buying an additional 35,576 shares during the period. Capital International Investors owned about 1.67% of Elevance Health worth $1,431,559,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $2,828,000. Te Ahumairangi Investment Management Ltd boosted its position in shares of Elevance Health by 39.6% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company's stock worth $5,433,000 after purchasing an additional 2,983 shares in the last quarter. Tudor Financial Inc. acquired a new position in shares of Elevance Health in the 3rd quarter valued at $235,000. Anchor Investment Management LLC raised its stake in Elevance Health by 22.9% during the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company's stock worth $3,171,000 after buying an additional 1,135 shares during the period. Finally, World Investment Advisors LLC bought a new position in Elevance Health during the third quarter worth about $8,855,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

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 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 $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction on 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 of the company's stock, 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. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on ELV shares. Guggenheim restated a "buy" rating and set a $518.00 target price on shares of Elevance Health in a report on Wednesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research report on Wednesday. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Truist Financial upped their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $509.44.

Elevance Health Trading Up 3.1 %

ELV traded up $13.10 during trading on Wednesday, hitting $429.00. The company's stock had a trading volume of 799,425 shares, compared to its average volume of 1,446,846. The stock's fifty day moving average price is $417.66 and its 200-day moving average price is $409.25. The firm has a market capitalization of $97.12 billion, a P/E ratio of 16.75, a PEG ratio of 1.18 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 1.45 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 issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

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.