Elevance Health, Inc. (NYSE:ELV) Shares Sold by Groupama Asset Managment

Groupama Asset Managment trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 35.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,726 shares of the company's stock after selling 4,714 shares during the period. Groupama Asset Managment's holdings in Elevance Health were worth $3,218,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Raelipskie Partnership purchased a new stake in Elevance Health during the 3rd quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $26,000. Dunhill Financial LLC boosted its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after acquiring an additional 26 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the 4th quarter valued at about $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 5.4 %

Shares of NYSE:ELV traded up $23.37 during mid-day trading on Thursday, reaching $452.70. 3,314,748 shares of the company were exchanged, compared to its average volume of 1,403,069. 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's 50-day simple moving average is $408.16 and its 200 day simple moving average is $419.12. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a market cap of $102.48 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.18 and a beta of 0.77.

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Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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%. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.51%. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

Analyst Ratings Changes

A number of research analysts recently commented on ELV shares. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Argus upgraded 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. Wells Fargo & Company cut their price target 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. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Truist Financial lowered their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $519.81.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The shares were 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 in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.