National Bank of Canada FI Buys 224,425 Shares of Elevance Health, Inc. (NYSE:ELV)

National Bank of Canada FI boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 848.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 250,872 shares of the company's stock after buying an additional 224,425 shares during the period. National Bank of Canada FI owned approximately 0.11% of Elevance Health worth $92,550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dunhill Financial LLC grew its stake 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 during the last quarter. Tobam boosted its holdings in Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after purchasing an additional 27 shares in the last quarter. Austin Private Wealth LLC grew its holdings in shares of 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 buying an additional 29 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after purchasing an additional 30 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the business'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 sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of NYSE ELV traded up $23.37 during midday trading on Thursday, reaching $452.70. The stock had a trading volume of 3,314,748 shares, compared to its average volume of 1,403,069. The company has a market capitalization of $102.48 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. 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 stock has a 50-day moving average of $408.16 and a 200-day moving average of $419.12. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month 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 (EPS) 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%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal 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 given a $1.71 dividend. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health's payout ratio is currently 26.71%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a report on Monday, March 17th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $519.81.

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.