MML Investors Services LLC Acquires 10,527 Shares of Elevance Health, Inc. (NYSE:ELV)

MML Investors Services LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,356 shares of the company's stock after purchasing an additional 10,527 shares during the quarter. MML Investors Services LLC's holdings in Elevance Health were worth $27,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Elevance Health during the 4th quarter worth about $1,135,014,000. Wellington Management Group LLP raised its position in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. First Eagle Investment Management LLC grew its stake in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after buying an additional 1,039,612 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after acquiring an additional 895,658 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in Elevance Health by 17.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company's stock valued at $1,060,901,000 after acquiring an additional 437,103 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $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 available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company's 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 completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ELV shares. Robert W. Baird restated a "neutral" rating and set a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a research note on Monday, March 17th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $509.44.

Elevance Health Stock Performance

ELV traded up $11.74 during trading hours on Wednesday, reaching $427.64. The company's stock had a trading volume of 1,801,405 shares, compared to its average volume of 1,452,948. The firm has a market cap of $96.81 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company's 50-day moving average is $418.43 and its 200-day moving average is $409.38. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. 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 released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. Elevance Health's dividend payout ratio is currently 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.