Elevance Health, Inc. (NYSE:ELV) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,753,406 shares of the company's stock after selling 469,301 shares during the period. Legal & General Group Plc owned 0.76% of Elevance Health worth $646,831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ELV. Dunhill Financial LLC grew its position in 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 purchasing an additional 26 shares during the period. Tobam boosted its stake in shares of Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after buying an additional 27 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Elevance Health by 3.2% in 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 period. Austin Private Wealth LLC increased its position in Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after acquiring an additional 29 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after acquiring an additional 30 shares during the period. Institutional investors own 89.24% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Mizuho raised their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday. Guggenheim started coverage on Elevance Health in a report on Wednesday. They set a "buy" rating and a $518.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $521.47.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health 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 transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Stock Up 0.8 %

Shares of ELV traded up $3.43 during mid-day trading on Friday, hitting $439.80. 1,350,246 shares of the company traded hands, compared to its average volume of 1,441,797. The business has a 50 day moving average of $412.93 and a 200 day moving average of $413.32. The company has a market capitalization of $99.56 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

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

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a dividend of $1.71 per share. This is an increase from Elevance Health's previous quarterly dividend of $1.63. 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 1.56%. Elevance Health's payout ratio is 26.71%.

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.