Elevance Health, Inc. (NYSE:ELV) Stock Holdings Lifted by MetLife Investment Management LLC

MetLife Investment Management LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,037 shares of the company's stock after purchasing an additional 1,032 shares during the period. MetLife Investment Management LLC's holdings in Elevance Health were worth $23,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Vanguard Group Inc. raised its holdings in Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after acquiring an additional 138,380 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after purchasing an additional 115,971 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after purchasing an additional 76,896 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Elevance Health by 0.9% during the fourth quarter. Capital International Investors now owns 3,880,630 shares of the company's stock worth $1,431,559,000 after purchasing an additional 35,576 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV traded up $2.21 during mid-day trading on Thursday, reaching $429.08. 1,485,431 shares of the company's stock traded hands, compared to its average volume of 1,453,082. 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 50-day moving average price is $418.43 and its 200-day moving average price is $409.38. The stock has a market capitalization of $97.14 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.59%. Elevance Health's dividend payout ratio is presently 26.71%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's 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 $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ELV shares. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Guggenheim restated a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research note on Wednesday. Stephens lowered shares of 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. Finally, StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $509.44.

About Elevance Health

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.