Elevance Health, Inc. (NYSE:ELV) Shares Sold by Empire Life Investments Inc.

Empire Life Investments Inc. decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,545 shares of the company's stock after selling 2,173 shares during the period. Elevance Health accounts for 2.2% of Empire Life Investments Inc.'s portfolio, making the stock its 8th largest position. Empire Life Investments Inc.'s holdings in Elevance Health were worth $34,878,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Good Life Advisors LLC boosted its stake in shares of Elevance Health by 11.2% in the third quarter. Good Life Advisors LLC now owns 625 shares of the company's stock valued at $325,000 after purchasing an additional 63 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Elevance Health by 8.8% in the third quarter. Global Retirement Partners LLC now owns 4,189 shares of the company's stock valued at $2,178,000 after purchasing an additional 338 shares during the period. Buffington Mohr McNeal boosted its stake in shares of Elevance Health by 7.4% in the third quarter. Buffington Mohr McNeal now owns 10,684 shares of the company's stock valued at $5,556,000 after purchasing an additional 734 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Elevance Health by 4.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,010 shares of the company's stock valued at $14,565,000 after purchasing an additional 1,175 shares during the period. Finally, Kozak & Associates Inc. boosted its stake in shares of Elevance Health by 15.3% in the third quarter. Kozak & Associates Inc. now owns 385 shares of the company's stock valued at $191,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Price Performance

NYSE:ELV traded up $9.38 during mid-day trading on Wednesday, reaching $391.86. 1,123,877 shares of the stock were exchanged, compared to its average volume of 1,627,207. The business has a fifty day moving average price of $384.81 and a 200 day moving average price of $446.05. The firm has a market capitalization of $90.88 billion, a PE ratio of 15.30, a PEG ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts expect that Elevance Health, Inc. will post 34 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company 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 dividend of $1.71 per share. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Monday, March 10th. Elevance Health's payout ratio is presently 25.46%.

Analyst Ratings Changes

A number of research analysts have commented on ELV shares. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $517.03.

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.