Stenger Family Office LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,539 shares of the company's stock, valued at approximately $568,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Elevance Health during the third quarter worth $2,828,000. Te Ahumairangi Investment Management Ltd boosted its position in shares of Elevance Health by 39.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company's stock worth $5,433,000 after buying an additional 2,983 shares in the last quarter. Tudor Financial Inc. purchased a new position in Elevance Health during the 3rd quarter valued at about $235,000. Anchor Investment Management LLC raised its position in Elevance Health by 22.9% during the third quarter. Anchor Investment Management LLC now owns 6,098 shares of the company's stock worth $3,171,000 after acquiring an additional 1,135 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $8,855,000. 89.24% of the stock is owned by institutional investors and hedge funds.
Elevance Health Stock Performance
Shares of ELV traded down $10.60 during mid-day trading on Friday, reaching $424.44. The company's stock had a trading volume of 3,569,359 shares, compared to its average volume of 1,445,521. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business has a 50-day simple moving average of $416.77 and a two-hundred day simple moving average of $411.07. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market cap of $96.09 billion, a P/E ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77.
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, beating 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 anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.
Elevance Health Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.61%. 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. Elevance Health's dividend payout ratio (DPR) is 26.71%.
Insiders Place Their Bets
In other news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred 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 $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 Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 10,116 shares of the company's stock, 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. Company insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on ELV shares. Guggenheim started coverage on shares of Elevance Health in a research note on Wednesday, April 9th. They set a "buy" rating and a $518.00 price target on the stock. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Robert W. Baird restated a "neutral" rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a research note on Tuesday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $514.41.
Read Our Latest Stock Analysis on ELV
Elevance Health Company Profile
(
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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