Distillate Capital Partners LLC Has $29.50 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Distillate Capital Partners LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 34.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,961 shares of the company's stock after selling 41,241 shares during the period. Elevance Health comprises approximately 1.4% of Distillate Capital Partners LLC's investment portfolio, making the stock its 11th biggest holding. Distillate Capital Partners LLC's holdings in Elevance Health were worth $29,498,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tobam lifted its holdings in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Jacobi Capital Management LLC grew its stake in shares of Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after acquiring an additional 27 shares during the last quarter. Austin Private Wealth LLC raised its position in shares of Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after purchasing an additional 29 shares during the last quarter. Quent Capital LLC boosted its stake in Elevance Health by 2.1% in the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after purchasing an additional 30 shares in the last quarter. Finally, RDA Financial Network increased its stake in Elevance Health by 0.5% during the 4th quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after purchasing an additional 32 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities analysts recently issued reports on ELV shares. Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a research note on Monday, March 17th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research note on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $514.41.

Elevance Health Stock Performance

NYSE:ELV traded down $3.34 during mid-day trading on Tuesday, reaching $437.83. 1,076,264 shares of the stock were exchanged, compared to its average volume of 1,441,289. The stock has a market capitalization of $99.12 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a 50 day simple moving average of $413.71 and a 200-day simple moving average of $411.99. 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 (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.56%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on 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 directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company'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 transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

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.