Xponance Inc. Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Xponance Inc. lifted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,945 shares of the company's stock after purchasing an additional 839 shares during the period. Xponance Inc.'s holdings in Elevance Health were worth $15,842,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ELV. Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after buying an additional 26 shares in the last quarter. Tobam boosted 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 in the last quarter. Jacobi Capital Management LLC boosted its holdings in 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 buying an additional 27 shares in the last quarter. Austin Private Wealth LLC boosted its holdings in 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 buying an additional 29 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective on the stock in a report on Monday, March 17th. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Finally, Truist Financial decreased their price objective 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 equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $519.81.

Elevance Health Trading Down 1.6 %

Elevance Health stock traded down $7.01 during midday trading on Friday, hitting $427.27. 3,034,683 shares of the stock were exchanged, compared to its average volume of 1,317,936. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market capitalization of $97.14 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86. The stock's 50-day simple moving average is $400.52 and its 200 day simple moving average is $426.27. 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 (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

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.