Quadrant Capital Group LLC Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Quadrant Capital Group LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 31.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,576 shares of the company's stock after selling 714 shares during the quarter. Quadrant Capital Group LLC's holdings in Elevance Health were worth $581,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its holdings in Elevance Health by 8.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,042 shares of the company's stock valued at $1,062,000 after purchasing an additional 160 shares during the period. Zacks Investment Management purchased a new position in shares of Elevance Health during the third quarter valued at approximately $511,000. Orion Portfolio Solutions LLC raised its holdings in shares of Elevance Health by 10.9% during the third quarter. Orion Portfolio Solutions LLC now owns 13,137 shares of the company's stock valued at $6,831,000 after acquiring an additional 1,288 shares in the last quarter. Dunhill Financial LLC lifted its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, MML Investors Services LLC boosted its holdings in Elevance Health by 3.5% in the third quarter. MML Investors Services LLC now owns 63,829 shares of the company's stock valued at $33,191,000 after acquiring an additional 2,172 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

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Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 completion of the sale, 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. Corporate insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of several research analyst reports. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target on the stock in a research report on Monday, March 17th. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial upped their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Guggenheim started coverage on Elevance Health in a research note on Wednesday. They issued a "buy" rating and a $518.00 price target on the stock. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $521.47.

Elevance Health Price Performance

Shares of ELV stock traded up $3.43 on Friday, hitting $439.80. 1,350,246 shares of the stock traded hands, compared to its average volume of 1,441,797. The firm has a market cap of $99.56 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.18 and a beta of 0.77. 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 has a 50 day simple moving average of $412.93 and a two-hundred day simple moving average of $413.32. 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 released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates 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, equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.56%. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health's payout ratio is 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.