Tower Research Capital LLC TRC raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 71.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,775 shares of the company's stock after purchasing an additional 5,320 shares during the period. Tower Research Capital LLC TRC's holdings in Elevance Health were worth $4,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Norges Bank acquired a new stake in shares of Elevance Health during the 4th quarter worth about $1,135,014,000. Wellington Management Group LLP raised its holdings in Elevance Health by 42.5% during the fourth 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 in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after buying an additional 1,039,612 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after buying an additional 895,658 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in shares of Elevance Health by 17.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company's stock valued at $1,060,901,000 after buying an additional 437,103 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on ELV shares. Mizuho upped their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Truist Financial lifted their price target on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research report on Wednesday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $509.44.
Get Our Latest Report on Elevance Health
Insider Buying and Selling
In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health 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 of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.
Elevance Health Price Performance
ELV stock traded down $7.24 on Friday, reaching $421.55. 1,534,488 shares of the company's stock were exchanged, compared to its average volume of 1,455,547. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month 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. The stock has a fifty day moving average of $419.22 and a 200-day moving average of $408.94. The firm has a market cap of $95.43 billion, a PE ratio of 16.46, a P/E/G ratio of 1.18 and a beta of 0.77.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.62%. Elevance Health's dividend payout ratio is presently 26.71%.
About Elevance Health
(
Free Report)
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.
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