Principal Financial Group Inc. Has $141.78 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Principal Financial Group Inc. lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 272,649 shares of the company's stock after acquiring an additional 11,646 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Elevance Health worth $141,777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Private Ocean LLC increased its position in shares of Elevance Health by 6.7% during the 2nd quarter. Private Ocean LLC now owns 348 shares of the company's stock worth $189,000 after purchasing an additional 22 shares during the last quarter. Cypress Wealth Services LLC raised its position in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock worth $353,000 after acquiring an additional 23 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company's stock valued at $320,000 after acquiring an additional 25 shares during the last quarter. Lifeworks Advisors LLC grew its position in shares of Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock valued at $539,000 after acquiring an additional 25 shares during the period. Finally, Cozad Asset Management Inc. increased its stake in shares of Elevance Health by 3.1% during the 2nd quarter. Cozad Asset Management Inc. now owns 870 shares of the company's stock worth $471,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

Elevance Health Price Performance

ELV stock traded down $0.52 during trading on Friday, reaching $365.96. 3,438,138 shares of the company were exchanged, compared to its average volume of 1,252,031. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $84.87 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.15 and a beta of 0.83. The company has a 50-day moving average of $409.70 and a two-hundred day moving average of $489.05.

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

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, December 5th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, December 5th. Elevance Health's payout ratio is currently 23.77%.

Wall Street Analyst Weigh In

ELV has been the subject of several recent analyst reports. StockNews.com downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Wednesday. Cantor Fitzgerald cut their price objective on Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a research report on Friday, October 18th. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Mizuho cut their price target on Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $539.20.

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.