Fmr LLC Has $808.90 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

FMR LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 52.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,192,731 shares of the company's stock after selling 2,426,019 shares during the quarter. FMR LLC owned approximately 0.95% of Elevance Health worth $808,898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELV. Dunhill Financial LLC lifted its holdings in 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 buying an additional 26 shares during the last quarter. Tobam boosted its holdings in Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after purchasing an additional 27 shares during the period. Jacobi Capital Management LLC boosted its holdings in Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after purchasing an additional 27 shares during the period. Austin Private Wealth LLC increased its stake in Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after purchasing an additional 29 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after purchasing an additional 30 shares during the period. Institutional investors own 89.24% of the company's stock.

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Elevance Health Price Performance

NYSE ELV traded up $3.43 on Friday, reaching $439.80. The company's stock had a trading volume of 1,350,246 shares, compared to its average volume of 1,442,810. The firm's 50 day moving average is $412.93 and its two-hundred day moving average is $412.57. The stock has a market cap of $99.56 billion, a PE 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 quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve 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 earnings per share (EPS) 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, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. 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%. Elevance Health's payout ratio is presently 26.71%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ELV. Truist Financial boosted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company cut their price target on 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 reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Mizuho upped their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $521.47.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares of the company's stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. 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.