Signaturefd LLC Has $865,000 Position in Elevance Health, Inc. (NYSE:ELV)

Signaturefd LLC lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 47.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,345 shares of the company's stock after selling 2,109 shares during the quarter. Signaturefd LLC's holdings in Elevance Health were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the 3rd quarter worth approximately $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the fourth quarter worth approximately $29,000. Crews Bank & Trust acquired a new position in shares of Elevance Health during the 4th quarter valued at $34,000. Dunhill Financial LLC raised its stake in shares of Elevance Health by 57.8% in the 3rd 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. Finally, Financial Perspectives Inc acquired a new stake in shares of Elevance Health in the fourth quarter valued at $50,000. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In other news, 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 transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on ELV. Wells Fargo & Company dropped their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a report on Monday, March 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Truist Financial reduced their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $519.81.

Elevance Health Stock Up 0.1 %

Shares of NYSE ELV traded up $0.43 during mid-day trading on Monday, reaching $427.62. The company had a trading volume of 972,096 shares, compared to its average volume of 1,319,389. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market capitalization of $97.22 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.18 and a beta of 0.86. The stock has a fifty day moving average of $400.52 and a two-hundred day moving average of $424.46.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is currently 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.