Elevance Health, Inc. (NYSE:ELV) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,091,456 shares of the company's stock after selling 290,352 shares during the period. Invesco Ltd. owned about 0.90% of Elevance Health worth $771,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELV. Russell Investments Group Ltd. increased its holdings in Elevance Health by 5.7% in the fourth quarter. Russell Investments Group Ltd. now owns 535,194 shares of the company's stock valued at $197,429,000 after buying an additional 29,012 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Elevance Health by 18.8% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,000,660 shares of the company's stock valued at $738,044,000 after acquiring an additional 316,002 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Elevance Health in the 4th quarter valued at about $44,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Elevance Health in the 4th quarter valued at about $28,164,000. Finally, Islay Capital Management LLC raised its holdings in Elevance Health by 1,550.4% in the 4th quarter. Islay Capital Management LLC now owns 2,096 shares of the company's stock worth $773,000 after purchasing an additional 1,969 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was 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 in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at $766,745.11. This 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.

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Wall Street Analyst Weigh In

ELV has been the subject of a number of recent analyst reports. Mizuho boosted their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial upped their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday. Finally, StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Two investment 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, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $521.47.

Elevance Health Trading Up 0.8 %

Shares of ELV stock traded up $3.43 on Friday, hitting $439.80. 1,350,246 shares of the stock traded hands, compared to its average volume of 1,442,810. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market capitalization of $99.56 billion, a PE ratio of 17.17, a PEG ratio of 1.18 and a beta of 0.77. The firm's 50-day moving average price is $412.93 and its two-hundred day moving average price is $412.57. 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 (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is 26.71%.

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.