Te Ahumairangi Investment Management Ltd Acquires 1,512 Shares of Elevance Health, Inc. (NYSE:ELV)

Te Ahumairangi Investment Management Ltd lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,020 shares of the company's stock after buying an additional 1,512 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Elevance Health were worth $4,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. Mutual Advisors LLC boosted its holdings in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after acquiring an additional 52 shares during the period. Czech National Bank increased its position in Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company's stock worth $18,551,000 after buying an additional 3,049 shares during the period. Diversified Trust Co boosted its position in shares of Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company's stock valued at $8,328,000 after acquiring an additional 2,725 shares during the period. JB Capital LLC increased its position in Elevance Health by 597.2% during 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 during the period. Finally, Tidal Investments LLC boosted its holdings in Elevance Health by 60.6% in the 3rd quarter. Tidal Investments LLC now owns 10,485 shares of the company's stock valued at $5,452,000 after purchasing an additional 3,956 shares during the period. Institutional investors own 89.24% of the company's stock.

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Elevance Health Trading Down 5.3 %

NYSE ELV traded down $24.07 during trading hours on Friday, hitting $428.62. 4,515,502 shares of the company's stock were exchanged, compared to its average volume of 1,418,552. The firm has a market cap of $97.03 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.18 and a beta of 0.77. The stock has a 50-day simple moving average of $408.70 and a 200 day simple moving average of $417.38. 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 1-year low of $362.21 and a 1-year 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 (EPS) 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%. On average, equities analysts forecast 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 was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health's payout ratio is presently 26.71%.

Insiders Place Their Bets

In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value 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 represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on 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 approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $519.81.

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.