Price T Rowe Associates Inc. MD Purchases 464,137 Shares of Elevance Health, Inc. (NYSE:ELV)

Price T Rowe Associates Inc. MD grew its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,618,062 shares of the company's stock after acquiring an additional 464,137 shares during the period. Price T Rowe Associates Inc. MD owned about 4.58% of Elevance Health worth $3,917,004,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Alta Advisers Ltd lifted its holdings in Elevance Health by 28.5% in the 4th quarter. Alta Advisers Ltd now owns 771 shares of the company's stock worth $284,000 after buying an additional 171 shares during the period. Eversept Partners LP lifted its stake in Elevance Health by 49.9% in the fourth quarter. Eversept Partners LP now owns 29,178 shares of the company's stock worth $10,764,000 after acquiring an additional 9,713 shares during the period. Hsbc Holdings PLC boosted its holdings in Elevance Health by 4.5% in the fourth quarter. Hsbc Holdings PLC now owns 760,804 shares of the company's stock valued at $280,793,000 after acquiring an additional 32,736 shares in the last quarter. Grafton Street Partners Fund LP bought a new stake in Elevance Health in the fourth quarter valued at $11,515,000. Finally, OneDigital Investment Advisors LLC increased its position in Elevance Health by 11.3% during the 4th quarter. OneDigital Investment Advisors LLC now owns 7,823 shares of the company's stock valued at $2,886,000 after purchasing an additional 795 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ELV shares. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price on the stock in a research note on Monday, March 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $508.81.

Elevance Health Trading Up 2.3 %

NYSE:ELV opened at $416.06 on Wednesday. The stock has a market cap of $94.19 billion, a price-to-earnings ratio of 16.25, a PEG 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. The company's 50 day moving average price is $417.66 and its 200-day moving average price is $409.25. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its 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 return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

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.

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