Pensionfund Sabic Grows Stake in Elevance Health, Inc. (NYSE:ELV)

Pensionfund Sabic raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 59.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,850 shares of the company's stock after acquiring an additional 1,800 shares during the quarter. Pensionfund Sabic's holdings in Elevance Health were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Pathway Financial Advisers LLC boosted its position in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock worth $341,956,000 after purchasing an additional 656,344 shares during the period. Stifel Financial Corp boosted its holdings in Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock worth $370,794,000 after buying an additional 538,978 shares during the period. International Assets Investment Management LLC increased its stake in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock worth $276,972,000 after buying an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company's stock valued at $1,117,698,000 after acquiring an additional 523,910 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after acquiring an additional 286,905 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ELV shares. UBS Group reduced their price objective on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating on the stock in a research report on Friday, October 18th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Stephens reissued an "underperform" rating on shares of Elevance Health in a report on Friday, October 18th. Barclays reduced their target price on Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Finally, TD Cowen dropped their price target on Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $536.53.

Elevance Health Trading Up 2.1 %

Shares of NYSE ELV traded up $7.80 during midday trading on Monday, hitting $379.36. The company's stock had a trading volume of 1,908,463 shares, compared to its average volume of 1,459,654. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $87.98 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. The business's 50 day moving average is $394.43 and its two-hundred day moving average is $476.77.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analysts' expectations of $43.47 billion. During the same quarter in the previous year, the business earned $8.99 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, December 5th. Elevance Health's payout ratio is 23.77%.

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.