Corient Private Wealth LLC Sells 9,935 Shares of Elevance Health, Inc. (NYSE:ELV)

Corient Private Wealth LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 71,502 shares of the company's stock after selling 9,935 shares during the period. Corient Private Wealth LLC's holdings in Elevance Health were worth $26,378,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ELV. State Street Corp increased its holdings in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company's stock worth $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC increased its stake in Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock worth $2,511,814,000 after purchasing an additional 85,770 shares during the period. Sanders Capital LLC increased its stake in Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock worth $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP boosted its stake in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after purchasing an additional 286,905 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

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Elevance Health Stock Down 1.6 %

Shares of NYSE ELV traded down $7.01 during midday trading on Friday, hitting $427.27. The stock had a trading volume of 3,034,683 shares, compared to its average volume of 1,317,936. The company has a market cap of $97.14 billion, a P/E ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86. 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 business's 50 day moving average is $400.52 and its 200-day moving average is $426.27. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.71%.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a report on Monday, March 17th. Truist Financial reduced their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday. Finally, Barclays lifted their price objective on 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, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $519.81.

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.