Guardian Partners Inc. purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,016 shares of the company's stock, valued at approximately $2,306,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp raised its position in shares of Elevance Health by 1.2% during the 3rd 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 grew 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 during the period. Sanders Capital LLC increased its holdings in Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock valued at $2,396,814,000 after purchasing an additional 44,805 shares during the last quarter. Wellington Management Group LLP lifted its stake in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after buying an additional 286,905 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after buying an additional 1,039,612 shares during the period. 89.24% of the stock is owned by institutional investors.
Elevance Health Stock Up 0.3 %
Shares of ELV traded up $1.28 during mid-day trading on Thursday, hitting $431.81. 1,075,229 shares of the company's stock were exchanged, compared to its average volume of 1,324,311. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a market cap of $98.17 billion, a PE ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a 50-day simple moving average of $403.50 and a 200 day simple moving average of $422.91.
Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.
Elevance Health Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.71%.
Insider Transactions at Elevance Health
In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the company's 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 sale, the chief accounting officer now directly 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 legal filing with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents 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.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research note on Monday, March 17th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $519.81.
Check Out Our Latest Stock Analysis on ELV
About Elevance Health
(
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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