Elevance Health, Inc. (NYSE:ELV) Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 48.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,267,396 shares of the company's stock after acquiring an additional 414,989 shares during the period. First Trust Advisors LP owned 0.55% of Elevance Health worth $467,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Tobam raised its stake in Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after acquiring an additional 27 shares during the last quarter. Jacobi Capital Management LLC raised its stake in shares of Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after purchasing an additional 27 shares during the last quarter. Austin Private Wealth LLC lifted its holdings in shares of Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after purchasing an additional 29 shares during the period. Quent Capital LLC increased its stake in Elevance Health by 2.1% in the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after buying an additional 30 shares during the period. Finally, RDA Financial Network increased its stake in Elevance Health by 0.5% in the 4th quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a research report on Wednesday. Wells Fargo & Company lowered 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. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $509.44.

Insider Buying and Selling

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

Elevance Health Stock Down 0.7 %

NYSE:ELV traded down $2.88 during mid-day trading on Thursday, hitting $423.99. The company had a trading volume of 613,325 shares, compared to its average volume of 1,720,934. The firm has a market capitalization of $95.99 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.18 and a beta of 0.77. 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 1 year low of $362.21 and a 1 year high of $567.26. The business has a fifty day simple moving average of $418.43 and a 200-day simple moving average of $409.38.

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

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is 26.71%.

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.