Elevance Health, Inc. (NYSE:ELV) Shares Bought by Kennedy Capital Management LLC

Kennedy Capital Management LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 26.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,403 shares of the company's stock after buying an additional 2,981 shares during the quarter. Kennedy Capital Management LLC's holdings in Elevance Health were worth $5,313,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $29,000. Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the fourth quarter worth about $30,000. Finally, Crews Bank & Trust acquired a new position in Elevance Health in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction on Monday, March 10th. The stock was 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 owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The shares were 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 owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

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Elevance Health Stock Performance

Shares of ELV traded down $2.65 during midday trading on Wednesday, reaching $435.12. 1,170,437 shares of the stock were exchanged, compared to its average volume of 1,699,453. The company has a market capitalization of $98.51 billion, a price-to-earnings ratio of 16.99, a PEG 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. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The business's 50-day moving average price is $414.67 and its 200 day moving average price is $412.17.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is presently 26.71%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ELV. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. 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. Robert W. Baird reissued a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday. Stephens downgraded 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 report on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $514.41.

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.