Elevance Health, Inc. (NYSE:ELV) Shares Sold by Qtron Investments LLC

Qtron Investments LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,121 shares of the company's stock after selling 573 shares during the quarter. Qtron Investments LLC's holdings in Elevance Health were worth $1,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 4th quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the fourth quarter worth about $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. bought a new position in Elevance Health in the 4th quarter worth approximately $30,000. Finally, Crews Bank & Trust purchased a new stake in Elevance Health during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

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Elevance Health Stock Down 0.8 %

Shares of NYSE:ELV traded down $3.34 during trading hours on Tuesday, hitting $437.83. The company's stock had a trading volume of 1,076,264 shares, compared to its average volume of 1,441,289. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm's fifty day moving average price is $413.71 and its 200 day moving average price is $411.99. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a market capitalization of $99.12 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is 26.71%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Robert W. Baird reiterated a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Truist Financial increased their target price on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research report on Friday. Guggenheim assumed coverage on shares of Elevance Health in a research note on Wednesday, April 9th. They set a "buy" rating and a $518.00 price target on the stock. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $514.41.

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.