Treasurer of the State of North Carolina Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

Treasurer of the State of North Carolina lowered its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,035 shares of the company's stock after selling 2,270 shares during the period. Treasurer of the State of North Carolina's holdings in Elevance Health were worth $38,747,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Capital Fund Management S.A. acquired a new stake in Elevance Health in the fourth quarter worth $23,146,000. Scotia Capital Inc. lifted its stake in shares of Elevance Health by 17.1% in the 4th quarter. Scotia Capital Inc. now owns 24,491 shares of the company's stock valued at $9,035,000 after purchasing an additional 3,583 shares during the last quarter. Phoenix Financial Ltd. boosted its holdings in Elevance Health by 10.3% during the fourth quarter. Phoenix Financial Ltd. now owns 1,110 shares of the company's stock valued at $410,000 after acquiring an additional 104 shares during the period. CenterBook Partners LP grew its position in Elevance Health by 537.6% during the fourth quarter. CenterBook Partners LP now owns 36,712 shares of the company's stock worth $13,543,000 after buying an additional 30,954 shares in the last quarter. Finally, APG Asset Management US Inc. raised its position in Elevance Health by 57.6% in the fourth quarter. APG Asset Management US Inc. now owns 4,792 shares of the company's stock worth $1,768,000 after purchasing an additional 1,752 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays increased their price objective on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday. Guggenheim began coverage on Elevance Health in a report on Wednesday, April 9th. They set a "buy" rating and a $518.00 target price on the stock. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $514.41.

Elevance Health Stock Up 0.4 %

ELV stock traded up $1.77 during mid-day trading on Wednesday, hitting $439.54. 441,729 shares of the company were exchanged, compared to its average volume of 1,437,453. The company has a market capitalization of $99.51 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. 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 simple moving average of $414.67 and a 200 day simple moving average of $412.17. 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 (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, beating 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%. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share 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 dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.56%. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is 26.71%.

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.