Cerity Partners LLC cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,065 shares of the company's stock after selling 1,594 shares during the period. Cerity Partners LLC's holdings in Elevance Health were worth $24,636,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mutual Advisors LLC boosted its position in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after buying an additional 52 shares during the period. Czech National Bank boosted its position in Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company's stock worth $18,551,000 after acquiring an additional 3,049 shares during the last quarter. Diversified Trust Co grew its stake in shares of 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 acquiring an additional 2,725 shares in the last quarter. JB Capital LLC raised its holdings in shares of Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after purchasing an additional 8,038 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Elevance Health by 60.6% in the third quarter. Tidal Investments LLC now owns 10,485 shares of the company's stock worth $5,452,000 after purchasing an additional 3,956 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other 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 shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, 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. Corporate insiders own 0.35% of the company's stock.
Wall Street Analyst Weigh In
ELV has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Guggenheim initiated coverage on Elevance Health in a report on Wednesday, April 9th. They set a "buy" rating and a $518.00 target price on the stock. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $521.47.
Read Our Latest Stock Report on Elevance Health
Elevance Health Stock Performance
ELV traded up $0.91 during trading on Monday, hitting $440.72. The stock had a trading volume of 233,510 shares, compared to its average volume of 1,438,138. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market cap of $99.77 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a 50 day moving average price of $412.93 and a 200-day moving average price of $412.57. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.
Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.
Elevance Health Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.55%. Elevance Health's payout ratio is currently 26.71%.
About Elevance Health
(
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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