Renaissance Technologies LLC bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 122,973 shares of the company's stock, valued at approximately $45,365,000. Renaissance Technologies LLC owned about 0.05% of Elevance Health as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Coldstream Capital Management Inc. grew its position in Elevance Health by 13.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,186 shares of the company's stock worth $2,132,000 after purchasing an additional 490 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Elevance Health by 4.5% in the third quarter. TD Private Client Wealth LLC now owns 2,994 shares of the company's stock valued at $1,557,000 after purchasing an additional 129 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in Elevance Health by 11.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,997 shares of the company's stock valued at $1,566,000 after acquiring an additional 317 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Elevance Health during the third quarter valued at $2,828,000. Finally, Te Ahumairangi Investment Management Ltd raised its position in Elevance Health by 39.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company's stock worth $5,433,000 after purchasing an additional 2,983 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.
Elevance Health Stock Performance
Shares of ELV traded up $1.13 during mid-day trading on Wednesday, hitting $438.90. The company's stock had a trading volume of 333,694 shares, compared to its average volume of 1,687,577. The firm has a market capitalization of $99.36 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The stock's 50-day moving average is $414.67 and its two-hundred day moving average is $412.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.
Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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, sell-side analysts anticipate 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. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.56%. Elevance Health's dividend payout ratio is presently 26.71%.
Analyst Ratings Changes
Several brokerages have issued reports on ELV. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a report on Tuesday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Stephens cut 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 report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $514.41.
View Our Latest Stock Analysis on ELV
Insider Activity at Elevance Health
In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value 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 approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.
Elevance Health Company Profile
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Free Report)
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.
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