FIL Ltd reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 419,754 shares of the company's stock after selling 180,045 shares during the quarter. FIL Ltd owned 0.18% of Elevance Health worth $154,847,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. EP Wealth Advisors LLC grew its holdings in Elevance Health by 8.5% in the third quarter. EP Wealth Advisors LLC now owns 2,042 shares of the company's stock valued at $1,062,000 after purchasing an additional 160 shares during the period. Zacks Investment Management purchased a new stake in shares of Elevance Health during the third quarter worth about $511,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Elevance Health by 3.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 74,990 shares of the company's stock valued at $38,995,000 after acquiring an additional 2,664 shares in the last quarter. Groupama Asset Managment raised its stake in Elevance Health by 91.4% in the 3rd quarter. Groupama Asset Managment now owns 13,440 shares of the company's stock valued at $70,000 after purchasing an additional 6,419 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Elevance Health by 17.3% during the third quarter. Continuum Advisory LLC now owns 700 shares of the company's stock worth $364,000 after buying an additional 103 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target on the stock in a research 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. Mizuho boosted their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $521.47.
Check Out Our Latest Analysis on ELV
Elevance Health Trading Up 0.2 %
Shares of Elevance Health stock traded up $0.91 during trading hours on Monday, reaching $440.72. The stock had a trading volume of 233,510 shares, compared to its average volume of 1,438,138. The firm has a market capitalization of $99.77 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. 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 firm has a 50 day simple moving average of $412.93 and a two-hundred day simple moving average of $412.57.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.
Elevance Health Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is currently 26.71%.
Insiders Place Their Bets
In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This 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 corporate insiders.
Elevance Health Profile
(
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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