Northwest & Ethical Investments L.P. Has $9.98 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Northwest & Ethical Investments L.P. raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 69.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,043 shares of the company's stock after acquiring an additional 11,066 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Elevance Health were worth $9,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the fourth quarter valued at about $26,000. OFI Invest Asset Management bought a new position in Elevance Health during the fourth quarter worth about $29,000. Crews Bank & Trust acquired a new stake in Elevance Health in the 4th quarter worth about $34,000. Finally, Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on ELV shares. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Truist Financial dropped their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Wells Fargo & Company cut 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. Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $519.81.

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Elevance Health Trading Down 1.0 %

Shares of ELV stock traded down $4.20 during mid-day trading on Tuesday, reaching $423.03. 1,309,735 shares of the stock traded hands, compared to its average volume of 1,319,262. The stock's fifty day simple moving average is $401.13 and its two-hundred day simple moving average is $423.64. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market cap of $96.18 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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, research analysts anticipate 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 will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.62%. Elevance Health's payout ratio is presently 26.71%.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly 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.

Elevance Health 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.