Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Eversept Partners LP

Eversept Partners LP raised its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 49.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,178 shares of the company's stock after acquiring an additional 9,713 shares during the period. Elevance Health makes up approximately 1.0% of Eversept Partners LP's investment portfolio, making the stock its 22nd largest position. Eversept Partners LP's holdings in Elevance Health were worth $10,764,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Hsbc Holdings PLC increased its position in shares of Elevance Health by 4.5% in the 4th quarter. Hsbc Holdings PLC now owns 760,804 shares of the company's stock valued at $280,793,000 after purchasing an additional 32,736 shares during the last quarter. Grafton Street Partners Fund LP acquired a new stake in shares of Elevance Health during the fourth quarter worth about $11,515,000. OneDigital Investment Advisors LLC increased its holdings in shares of Elevance Health by 11.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,823 shares of the company's stock valued at $2,886,000 after purchasing an additional 795 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of Elevance Health by 0.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 16,616 shares of the company's stock worth $6,128,000 after acquiring an additional 46 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Elevance Health by 71.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,775 shares of the company's stock worth $4,713,000 after acquiring an additional 5,320 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ELV shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective on the stock in a report on Monday, March 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $508.81.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $405.68 on Tuesday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a market cap of $91.84 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.18 and a beta of 0.77. 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 business's fifty day moving average is $417.18 and its 200 day moving average is $409.20.

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, 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%. Research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is presently 26.71%.

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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.