Elevance Health, Inc. (NYSE:ELV) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 294,997 shares of the company's stock after selling 56,411 shares during the period. Bank of Montreal Can owned 0.13% of Elevance Health worth $108,825,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of Elevance Health by 5.7% during the fourth quarter. Russell Investments Group Ltd. now owns 535,194 shares of the company's stock worth $197,429,000 after purchasing an additional 29,012 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in Elevance Health by 18.8% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,000,660 shares of the company's stock worth $738,044,000 after acquiring an additional 316,002 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Elevance Health during the 4th quarter worth $44,000. Resona Asset Management Co. Ltd. bought a new position in Elevance Health during the fourth quarter worth $28,164,000. Finally, Islay Capital Management LLC lifted its position in shares of Elevance Health by 1,550.4% during the 4th quarter. Islay Capital Management LLC now owns 2,096 shares of the company's stock valued at $773,000 after acquiring an additional 1,969 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm'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 transaction of $1,388,635.20. Following the completion of the sale, 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 0.35% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ELV shares. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Guggenheim began coverage on shares of Elevance Health in a research report on Wednesday, April 9th. They issued a "buy" rating and a $518.00 target price on the stock. Truist Financial lifted their target price on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $521.47.

Elevance Health Stock Up 0.2 %

NYSE:ELV traded up $0.91 on Monday, hitting $440.72. 233,510 shares of the company's stock were exchanged, compared to its average volume of 1,438,138. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a 50-day moving average price of $412.93 and a 200-day moving average price of $412.57. The company has a market cap of $99.77 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health's dividend payout ratio 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.