KCM Investment Advisors LLC Has $1.94 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

KCM Investment Advisors LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 60.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,254 shares of the company's stock after selling 7,990 shares during the quarter. KCM Investment Advisors LLC's holdings in Elevance Health were worth $1,938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in shares of Elevance Health by 3.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,756 shares of the company's stock worth $1,953,000 after buying an additional 114 shares during the last quarter. IHT Wealth Management LLC grew its stake in Elevance Health by 9.8% in the third quarter. IHT Wealth Management LLC now owns 1,506 shares of the company's stock valued at $780,000 after purchasing an additional 135 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Elevance Health by 26.1% during the 3rd quarter. Quantinno Capital Management LP now owns 11,889 shares of the company's stock worth $6,182,000 after purchasing an additional 2,461 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Elevance Health by 108.3% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 28,751 shares of the company's stock worth $14,951,000 after purchasing an additional 14,947 shares in the last quarter. Finally, EdgePoint Investment Group Inc. grew its stake in shares of Elevance Health by 3.6% in the third quarter. EdgePoint Investment Group Inc. now owns 1,312,692 shares of the company's stock valued at $682,600,000 after buying an additional 45,720 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent analyst reports. Truist Financial increased their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday. Barclays lifted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Mizuho increased their price target on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $521.47.

Insider Transactions at Elevance Health

In other 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 stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now 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 Price Performance

NYSE:ELV traded down $1.81 during mid-day trading on Friday, reaching $434.57. The stock had a trading volume of 417,495 shares, compared to its average volume of 1,435,959. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market capitalization of $98.38 billion, a PE ratio of 16.97, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a 50-day simple moving average of $412.18 and a two-hundred day simple moving average of $413.88.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a $1.71 dividend. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.57%. Elevance Health's dividend payout ratio is presently 26.71%.

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.