Scotia Capital Inc. Acquires 3,583 Shares of Elevance Health, Inc. (NYSE:ELV)

Scotia Capital Inc. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,491 shares of the company's stock after acquiring an additional 3,583 shares during the period. Scotia Capital Inc.'s holdings in Elevance Health were worth $9,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. grew its stake in Elevance Health by 13.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,186 shares of the company's stock valued at $2,132,000 after purchasing an additional 490 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Elevance Health by 4.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,994 shares of the company's stock worth $1,557,000 after purchasing an additional 129 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Elevance Health by 11.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,997 shares of the company's stock worth $1,566,000 after acquiring an additional 317 shares during the period. Virtu Financial LLC bought a new position in shares of Elevance Health in the 3rd quarter valued at $2,828,000. Finally, Te Ahumairangi Investment Management Ltd increased its position in Elevance Health by 39.6% during 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 in the last quarter. Institutional investors own 89.24% of the company's stock.

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Analyst Upgrades and Downgrades

ELV has been the subject of a number of analyst reports. Robert W. Baird reissued a "neutral" rating and set a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Guggenheim began coverage on shares of Elevance Health in a research report on Wednesday, April 9th. They set a "buy" rating and a $518.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average target price of $514.41.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business's 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available 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 value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. The trade was 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 insiders.

Elevance Health Stock Performance

Elevance Health stock traded up $0.98 during midday trading on Wednesday, reaching $438.75. 368,972 shares of the stock traded hands, compared to its average volume of 1,437,126. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market cap of $99.33 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.18 and a beta of 0.77. The firm has a fifty day moving average price of $414.67 and a two-hundred day moving average price of $412.17. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last released its 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%. 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. Investors of record on Monday, March 10th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is 26.71%.

Elevance Health Company Profile

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.