Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,488,911 shares of the company's stock after buying an additional 91,653 shares during the period. Massachusetts Financial Services Co. MA owned about 1.07% of Elevance Health worth $918,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ELV. Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares during the period. Tobam lifted its holdings in Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after buying an additional 27 shares during the period. Jacobi Capital Management LLC boosted its position in Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after acquiring an additional 27 shares in the last quarter. Austin Private Wealth LLC increased its holdings 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 acquiring an additional 29 shares during the period. Finally, Quent Capital LLC grew its stake in Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after purchasing an additional 30 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ELV shares. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Truist Financial decreased their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $519.81.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $23.37 during trading on Thursday, hitting $452.70. 3,314,748 shares of the stock traded hands, compared to its average volume of 1,403,069. The company has a fifty day moving average price of $408.16 and a two-hundred day moving average price of $419.12. The company has a market cap of $102.48 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. 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 announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.51%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health's 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.