Prudential PLC Has $20.09 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Prudential PLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 54,466 shares of the company's stock after selling 1,122 shares during the quarter. Prudential PLC's holdings in Elevance Health were worth $20,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ELV. Raelipskie Partnership bought a new stake in shares of Elevance Health during the 3rd quarter worth about $26,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health during the fourth quarter worth about $26,000. OFI Invest Asset Management bought a new stake in Elevance Health in the fourth quarter worth about $29,000. WealthTrak Capital Management LLC bought a new stake in Elevance Health in the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the 4th quarter valued at about $30,000. Institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $519.71.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction 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 owns 10,116 shares of the company's stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company's stock.

Elevance Health Stock Down 1.0 %

NYSE ELV traded down $4.26 during trading on Wednesday, hitting $426.64. 733,778 shares of the company traded hands, compared to its average volume of 1,428,401. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $96.58 billion, a P/E ratio of 16.62, a PEG ratio of 1.18 and a beta of 0.77. The business has a fifty day simple moving average of $410.03 and a 200 day simple moving average of $415.05. 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 released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 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, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a $1.71 dividend. The ex-dividend date was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is presently 26.71%.

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.