CenterBook Partners LP Increases Stake in Elevance Health, Inc. (NYSE:ELV)

CenterBook Partners LP boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 537.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,712 shares of the company's stock after purchasing an additional 30,954 shares during the period. Elevance Health comprises 0.8% of CenterBook Partners LP's holdings, making the stock its 23rd biggest holding. CenterBook Partners LP's holdings in Elevance Health were worth $13,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. APG Asset Management US Inc. lifted its holdings in shares of Elevance Health by 57.6% in the 4th quarter. APG Asset Management US Inc. now owns 4,792 shares of the company's stock worth $1,768,000 after buying an additional 1,752 shares during the period. Texas Yale Capital Corp. lifted its stake 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. APG Asset Management N.V. grew its holdings in Elevance Health by 157.9% during the 4th quarter. APG Asset Management N.V. now owns 205,796 shares of the company's stock worth $73,315,000 after acquiring an additional 125,995 shares in the last quarter. Greenland Capital Management LP purchased a new position in Elevance Health during the 4th quarter valued at about $259,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at about $45,365,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ELV shares. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Finally, Barclays lifted 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. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $521.47.

Insider Transactions 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 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 sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company's stock.

Elevance Health Price Performance

Shares of ELV traded down $0.58 during trading hours on Monday, hitting $439.23. 367,041 shares of the stock were exchanged, compared to its average volume of 1,438,563. The stock's 50-day moving average price is $412.93 and its two-hundred day moving average price is $412.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market cap of $99.44 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results 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%. Research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is 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.