13,133 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,133 shares of the company's stock, valued at approximately $4,845,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new position in shares of Elevance Health in the 3rd quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter valued at $26,000. OFI Invest Asset Management acquired a new position in Elevance Health in the 4th quarter valued at $29,000. Lee Danner & Bass Inc. acquired a new position in Elevance Health in the 4th quarter valued at $30,000. Finally, Crews Bank & Trust purchased a new position in Elevance Health during the 4th quarter worth $34,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the company'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 transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 of the company's stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

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Analyst Ratings Changes

Several research firms recently issued reports on ELV. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial dropped their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $519.81.

Elevance Health Price Performance

Shares of NYSE ELV traded up $6.82 on Wednesday, hitting $430.29. The company's stock had a trading volume of 1,224,427 shares, compared to its average volume of 1,321,227. The stock has a 50 day moving average of $401.73 and a 200-day moving average of $422.80. The company has a market capitalization of $97.83 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company 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. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.59%. 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.