Elevance Health, Inc. (NYSE:ELV) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,508 shares of the company's stock after selling 1,318 shares during the quarter. Flputnam Investment Management Co.'s holdings in Elevance Health were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company's stock valued at $5,557,759,000 after acquiring an additional 129,709 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock worth $2,511,814,000 after purchasing an additional 85,770 shares in the last quarter. Sanders Capital LLC lifted its stake in shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock worth $2,396,814,000 after purchasing an additional 44,805 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock worth $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Down 0.2 %

Elevance Health stock traded down $0.95 during midday trading on Thursday, hitting $396.53. The stock had a trading volume of 393,280 shares, compared to its average volume of 1,581,111. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market cap of $90.15 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The business has a fifty day moving average price of $389.26 and a 200 day moving average price of $436.03.

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

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.72%. Elevance Health's dividend payout ratio is 26.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ELV shares. Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Saturday, March 1st. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Argus restated a "hold" rating and set a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $517.03.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction that occurred 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 directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company's stock.

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.