Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,577 shares of the company's stock after acquiring an additional 18,858 shares during the period. Sei Investments Co. owned 0.06% of Elevance Health worth $55,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. First Eagle Investment Management LLC grew its position in shares of Elevance Health by 47.6% during the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Stifel Financial Corp grew its holdings in Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock valued at $370,794,000 after buying an additional 538,978 shares in the last quarter. Wellington Management Group LLP increased its stake in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. World Investment Advisors LLC bought a new stake in Elevance Health in the 3rd quarter worth approximately $129,221,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $88,882,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Argus upgraded 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. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Two equities 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's stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and an average target price of $519.81.

Remove Ads

Insider Buying and Selling at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the company's 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company'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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

Elevance Health Trading Up 0.3 %

ELV stock traded up $1.28 during midday trading on Thursday, reaching $431.81. The company's stock had a trading volume of 1,075,229 shares, compared to its average volume of 1,321,768. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock has a fifty day simple moving average of $402.56 and a two-hundred day simple moving average of $422.85. The firm has a market capitalization of $98.17 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. 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 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 return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is currently 26.71%.

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.