Wellington Management Group LLP Buys 1,893,947 Shares of Elevance Health, Inc. (NYSE:ELV)

Wellington Management Group LLP increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 42.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,355,532 shares of the company's stock after acquiring an additional 1,893,947 shares during the period. Wellington Management Group LLP owned about 2.80% of Elevance Health worth $2,344,556,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter worth approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the 4th quarter worth approximately $26,000. Dunhill Financial LLC boosted its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after buying an additional 26 shares during the period. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health during the 4th quarter valued at $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health in the fourth quarter worth $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

NYSE:ELV traded down $3.32 during mid-day trading on Wednesday, hitting $429.36. 1,156,250 shares of the company's stock traded hands, compared to its average volume of 1,395,841. The firm has a market capitalization of $97.20 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The firm has a 50 day moving average of $406.34 and a two-hundred day moving average of $418.81. 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, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

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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 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%. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is currently 26.71%.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm'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 value of $183,902.59. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following 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 ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a research report on Monday, March 17th. Finally, Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $519.81.

Elevance Health 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.