Elevance Health, Inc. (NYSE:ELV) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 316,789 shares of the company's stock after acquiring an additional 17,813 shares during the period. Elevance Health accounts for about 1.6% of Sterling Capital Management LLC's portfolio, making the stock its 12th largest holding. Sterling Capital Management LLC owned approximately 0.14% of Elevance Health worth $116,864,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management purchased a new position in Elevance Health during the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the 4th quarter valued at about $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth about $30,000. Finally, Crews Bank & Trust acquired a new position in shares of Elevance Health in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Price Performance

ELV traded down $1.14 during midday trading on Wednesday, reaching $436.63. 516,856 shares of the company's stock were exchanged, compared to its average volume of 1,437,737. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market capitalization of $98.85 billion, a PE ratio of 17.05, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business's 50-day moving average price is $414.67 and its 200 day moving average price is $412.17.

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Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.57%. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health's payout ratio is 26.71%.

Insider Activity

In related news, 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 transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ELV. Mizuho boosted their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Guggenheim began coverage on shares of Elevance Health in a research note on Wednesday, April 9th. They issued a "buy" rating and a $518.00 price objective on the stock. Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Wells Fargo & Company lowered their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $514.41.

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.