Intech Investment Management LLC Acquires 11,547 Shares of Elevance Health, Inc. (NYSE:ELV)

Intech Investment Management LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 42.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,617 shares of the company's stock after buying an additional 11,547 shares during the period. Intech Investment Management LLC's holdings in Elevance Health were worth $14,246,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter worth $26,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new stake in Elevance Health during the fourth quarter worth $29,000. Crews Bank & Trust bought a new stake in Elevance Health during the fourth quarter worth $34,000. Finally, Dunhill Financial LLC lifted its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday. Truist Financial lowered their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $519.81.

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Elevance Health Price Performance

Elevance Health stock traded down $7.01 during midday trading on Friday, hitting $427.27. 3,034,683 shares of the company's stock were exchanged, compared to its average volume of 1,317,936. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a 50-day moving average price of $400.52 and a two-hundred day moving average price of $426.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market cap of $97.14 billion, a P/E ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV - Get Free Report) last posted its 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%. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed 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. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Monday, March 10th. Elevance Health's dividend payout ratio is presently 26.71%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This trade represents a 19.34 % 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 Company 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.