Unigestion Holding SA Sells 11,101 Shares of Elevance Health, Inc. (NYSE:ELV)

Unigestion Holding SA trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,849 shares of the company's stock after selling 11,101 shares during the quarter. Unigestion Holding SA's holdings in Elevance Health were worth $11,380,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its holdings in shares of Elevance Health by 3.1% during the third quarter. Integrated Wealth Concepts LLC now owns 3,756 shares of the company's stock worth $1,953,000 after acquiring an additional 114 shares during the period. IHT Wealth Management LLC raised its stake in shares of Elevance Health by 9.8% in the 3rd quarter. IHT Wealth Management LLC now owns 1,506 shares of the company's stock valued at $780,000 after purchasing an additional 135 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Elevance Health by 26.1% in the third quarter. Quantinno Capital Management LP now owns 11,889 shares of the company's stock valued at $6,182,000 after purchasing an additional 2,461 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Elevance Health by 108.3% during the third quarter. Kovitz Investment Group Partners LLC now owns 28,751 shares of the company's stock worth $14,951,000 after buying an additional 14,947 shares during the period. Finally, EdgePoint Investment Group Inc. grew its holdings in shares of Elevance Health by 3.6% during the third quarter. EdgePoint Investment Group Inc. now owns 1,312,692 shares of the company's stock worth $682,600,000 after buying an additional 45,720 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

ELV has been the subject of a number of recent research reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Mizuho increased their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday. Truist Financial lifted their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a research note on Monday, March 17th. 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 report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $521.47.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $3.32 on Friday, hitting $439.69. The company had a trading volume of 683,308 shares, compared to its average volume of 1,437,029. The stock has a market cap of $99.54 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.18 and a beta of 0.77. The stock has a 50 day moving average price of $412.18 and a 200 day moving average price of $413.88. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. 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 quarterly 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 net margin of 3.38% and a return on equity of 18.28%. Analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced 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 dividend yield of 1.56%. The ex-dividend date was 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 presently 26.71%.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company'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 sale, the executive vice president now 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 ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

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.