DnB Asset Management AS Acquires 3,263 Shares of Elevance Health, Inc. (NYSE:ELV)

DnB Asset Management AS lifted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,246 shares of the company's stock after acquiring an additional 3,263 shares during the quarter. DnB Asset Management AS's holdings in Elevance Health were worth $21,856,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in Elevance Health by 3.8% in the third quarter. Fisher Asset Management LLC now owns 838 shares of the company's stock valued at $436,000 after buying an additional 31 shares during the period. Townsquare Capital LLC raised its holdings in Elevance Health by 6.3% in the third quarter. Townsquare Capital LLC now owns 8,727 shares of the company's stock worth $4,538,000 after purchasing an additional 517 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Elevance Health by 12.3% during the third quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company's stock worth $5,217,000 after purchasing an additional 1,100 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of Elevance Health by 2.7% in the 3rd quarter. Financial Counselors Inc. now owns 1,953 shares of the company's stock valued at $1,016,000 after buying an additional 51 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Elevance Health by 0.7% in the 3rd quarter. Captrust Financial Advisors now owns 38,974 shares of the company's stock valued at $20,267,000 after buying an additional 286 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

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Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available 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 transaction, the chief accounting officer now 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. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Shares of ELV stock traded down $2.97 on Wednesday, hitting $429.71. The company's stock had a trading volume of 394,479 shares, compared to its average volume of 1,392,924. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. 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 stock's 50 day moving average is $406.34 and its 200-day moving average is $418.81. The company has a market capitalization of $97.70 billion, a PE ratio of 16.78, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results 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 net margin of 3.38% and a return on equity of 18.28%. Equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors 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 1.59%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is 26.71%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ELV shares. Argus upgraded Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a report on Monday, March 17th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.