Tocqueville Asset Management L.P. Has $3.38 Million Position in Elevance Health, Inc. (NYSE:ELV)

Tocqueville Asset Management L.P. raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,171 shares of the company's stock after buying an additional 670 shares during the period. Tocqueville Asset Management L.P.'s holdings in Elevance Health were worth $3,383,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ELV. First Eagle Investment Management LLC increased its holdings in shares of Elevance Health by 47.6% in 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 buying an additional 1,039,612 shares in the last quarter. Stifel Financial Corp grew its position in Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock worth $370,794,000 after purchasing an additional 538,978 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock worth $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. Wellington Management Group LLP grew its position in Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new position in Elevance Health during the 3rd quarter worth approximately $129,221,000. Institutional investors own 89.24% of the company's stock.

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Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction dated 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 sale, 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. Company insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday. Stephens cut shares of 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 report on Wednesday, January 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Finally, Barclays boosted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $519.81.

Elevance Health Stock Performance

Elevance Health stock traded down $7.01 on Friday, reaching $427.27. 3,034,683 shares of the stock were exchanged, compared to its average volume of 1,317,936. The stock has a market cap of $97.14 billion, a PE ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86. 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 twelve month low of $362.21 and a twelve month high of $567.26. The firm has a fifty day moving average price of $400.52 and a two-hundred day moving average price of $426.27.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current 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 given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is 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.