iA Global Asset Management Inc. Has $23.97 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

iA Global Asset Management Inc. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,985 shares of the company's stock after selling 8,646 shares during the period. iA Global Asset Management Inc.'s holdings in Elevance Health were worth $23,973,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership bought a new position in Elevance Health during the 3rd quarter worth $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the fourth quarter worth about $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the 4th quarter worth about $29,000. Crews Bank & Trust bought a new stake in Elevance Health in the 4th quarter valued at about $34,000. Finally, Dunhill Financial LLC boosted its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ELV shares. 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. Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price on the stock in a research note on Monday, March 17th. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Two 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $519.81.

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Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's 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 transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business'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 transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Price Performance

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 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market cap of $97.22 billion, a PE ratio of 16.70, a P/E/G ratio of 1.18 and a beta of 0.86. 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 company has a 50-day moving average price of $401.13 and a two-hundred day moving average price of $423.64.

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, 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%. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is presently 26.71%.

About Elevance Health

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.