Sector Gamma AS cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 34.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,279 shares of the company's stock after selling 9,000 shares during the period. Elevance Health makes up approximately 2.2% of Sector Gamma AS's portfolio, making the stock its 18th biggest position. Sector Gamma AS's holdings in Elevance Health were worth $6,374,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Mutual Advisors LLC increased its stake in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after purchasing an additional 52 shares in the last quarter. Czech National Bank increased its position in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after buying an additional 3,049 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock worth $27,858,000 after buying an additional 50,603 shares during the period. Diversified Trust Co raised its stake in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company's stock worth $8,328,000 after buying an additional 2,725 shares during the period. Finally, JB Capital LLC boosted its holdings in Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock worth $3,462,000 after acquiring an additional 8,038 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Elevance Health
In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction on 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 completion of the transaction, 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. Corporate insiders own 0.35% of the company's stock.
Elevance Health Stock Performance
Shares of NYSE:ELV traded down $4.20 during midday trading on Tuesday, reaching $423.03. The company had a trading volume of 1,309,735 shares, compared to its average volume of 1,322,262. The stock has a market cap of $96.18 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.18 and a beta of 0.86. The company's 50 day moving average price is $401.73 and its 200 day moving average price is $422.80. 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, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.
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, beating analysts' consensus estimates 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, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Increases Dividend
The company also recently announced 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. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.71%.
Analyst Ratings Changes
ELV has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Wells Fargo & Company dropped their price objective 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. Stephens cut 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 report on Wednesday, January 22nd. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price on the stock in a report on Monday, March 17th. Finally, Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and a consensus target price of $519.81.
Check Out Our Latest Research Report on ELV
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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