Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 120.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,028 shares of the company's stock after purchasing an additional 7,653 shares during the period. Jones Financial Companies Lllp's holdings in Elevance Health were worth $5,175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lifeworks Advisors LLC grew its holdings in Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock valued at $539,000 after purchasing an additional 25 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after buying an additional 26 shares in the last quarter. Catalina Capital Group LLC boosted its position in shares of Elevance Health by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company's stock worth $861,000 after buying an additional 27 shares in the last quarter. Tobam grew its stake in Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after acquiring an additional 27 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after acquiring an additional 27 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 1.1 %

Shares of ELV traded up $4.56 during trading hours on Thursday, hitting $402.03. The stock had a trading volume of 598,376 shares, compared to its average volume of 1,585,785. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a market cap of $91.40 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.18 and a beta of 0.83. 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's fifty day simple moving average is $389.26 and its 200 day simple moving average is $436.03.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 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%. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, March 10th. Elevance Health's payout ratio is currently 26.71%.

Insider Transactions 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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research report on Saturday, March 1st. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $517.03.

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.