ExodusPoint Capital Management LP reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 84.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,587 shares of the company's stock after selling 73,591 shares during the period. ExodusPoint Capital Management LP's holdings in Elevance Health were worth $5,012,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Elevance Health in the 4th quarter worth about $1,135,014,000. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% in 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 during the last quarter. First Eagle Investment Management LLC increased its position in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after purchasing an additional 895,658 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in Elevance Health by 17.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company's stock valued at $1,060,901,000 after purchasing an additional 437,103 shares during the last quarter. Institutional investors own 89.24% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on ELV. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective on the stock in a research report on Monday, March 17th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Truist Financial upped their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wells Fargo & Company lowered their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $521.47.
Get Our Latest Stock Analysis on Elevance Health
Elevance Health Trading Up 0.8 %
NYSE:ELV traded up $3.43 during mid-day trading on Friday, reaching $439.80. 1,350,246 shares of the company's stock traded hands, compared to its average volume of 1,441,797. The company has a 50 day moving average price of $412.93 and a 200-day moving average price of $413.32. The firm has a market capitalization of $99.56 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. 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 Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.
Elevance Health Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a $1.71 dividend. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Monday, March 10th. Elevance Health's dividend payout ratio is presently 26.71%.
Insiders Place Their Bets
In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 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 position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.
Elevance Health Profile
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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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