Sciencast Management LP bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,248 shares of the company's stock, valued at approximately $3,043,000. Elevance Health makes up approximately 0.8% of Sciencast Management LP's portfolio, making the stock its 18th largest position.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in shares of Elevance Health during the 3rd quarter valued at about $52,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Elevance Health by 460.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,923 shares of the company's stock worth $2,560,000 after buying an additional 4,044 shares during the period. Advisors Asset Management Inc. lifted its stake in Elevance Health by 57.4% in the third quarter. Advisors Asset Management Inc. now owns 8,377 shares of the company's stock valued at $4,356,000 after buying an additional 3,054 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Elevance Health by 6.5% in the third quarter. First Horizon Advisors Inc. now owns 854 shares of the company's stock valued at $444,000 after buying an additional 52 shares during the period. Finally, Intech Investment Management LLC increased its position in shares of Elevance Health by 67.6% during the third quarter. Intech Investment Management LLC now owns 27,070 shares of the company's stock worth $14,076,000 after acquiring an additional 10,915 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ELV has been the topic of several research reports. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Finally, Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $519.81.
View Our Latest Stock Analysis on Elevance Health
Insider Transactions at Elevance Health
In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 transaction, the executive vice president now owns 10,116 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on 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 sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.
Elevance Health Stock Performance
NYSE:ELV traded up $6.82 during mid-day trading on Wednesday, hitting $430.29. The stock had a trading volume of 1,224,427 shares, compared to its average volume of 1,321,227. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market cap of $97.83 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.18 and a beta of 0.86. The company's 50 day simple moving average is $401.73 and its 200 day simple moving average is $422.80.
Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results 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%. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.
Elevance Health Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.59%. Elevance Health's dividend payout ratio is presently 26.71%.
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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