Royal London Asset Management Ltd. Grows Position in Elevance Health, Inc. (NYSE:ELV)

Royal London Asset Management Ltd. increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 231,309 shares of the company's stock after buying an additional 2,049 shares during the quarter. Royal London Asset Management Ltd. owned 0.10% of Elevance Health worth $85,330,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ELV. Generali Investments Management Co LLC acquired a new stake in Elevance Health during the 4th quarter worth approximately $665,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Elevance Health during the fourth quarter worth $259,000. Brooklyn FI LLC acquired a new position in shares of Elevance Health during the fourth quarter worth $519,000. Xponance Inc. grew its stake in shares of Elevance Health by 2.0% in the fourth quarter. Xponance Inc. now owns 42,945 shares of the company's stock worth $15,842,000 after purchasing an additional 839 shares during the last quarter. Finally, OPTIMAS CAPITAL Ltd acquired a new stake in Elevance Health in the fourth quarter valued at $738,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the 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 completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated 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 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.

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Elevance Health Stock Up 0.1 %

ELV stock traded up $0.43 during mid-day trading on Monday, reaching $427.62. 972,096 shares of the company traded hands, compared to its average volume of 1,319,389. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm's 50 day moving average price is $400.52 and its 200 day moving average price is $424.46. The stock has a market cap of $97.22 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 1.18 and a beta of 0.86.

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

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend 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 currently 26.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average price target of $519.81.

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.