Elevance Health, Inc. (NYSE:ELV) Stake Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 300,284 shares of the company's stock after selling 6,545 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.13% of Elevance Health worth $110,852,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Elevance Health in the third quarter valued at $518,000. Claro Advisors LLC grew its position in shares of Elevance Health by 41.7% in the third quarter. Claro Advisors LLC now owns 1,006 shares of the company's stock valued at $523,000 after purchasing an additional 296 shares during the period. Aljian Capital Management LLC purchased a new stake in shares of Elevance Health in the third quarter valued at $1,252,000. Quest Partners LLC grew its position in shares of Elevance Health by 201.6% in the third quarter. Quest Partners LLC now owns 2,319 shares of the company's stock valued at $1,206,000 after purchasing an additional 1,550 shares during the period. Finally, GLOBALT Investments LLC GA grew its position in shares of Elevance Health by 0.6% in the third quarter. GLOBALT Investments LLC GA now owns 6,857 shares of the company's stock valued at $3,566,000 after purchasing an additional 40 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Elevance Health 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's 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 sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

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Analyst Ratings Changes

ELV has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. 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 research report on Tuesday, January 28th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Finally, Argus raised 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. 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's stock. According to MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $519.81.

Elevance Health Stock Down 1.6 %

Shares of NYSE ELV traded down $7.01 on Friday, hitting $427.27. The company had a trading volume of 3,034,683 shares, compared to its average volume of 1,317,936. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business has a 50 day moving average of $400.52 and a two-hundred day moving average of $426.27. The firm has a market capitalization of $97.14 billion, a P/E ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 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 research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.60%. Elevance Health's payout ratio is 26.71%.

Elevance Health 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.