Elevance Health, Inc. (NYSE:ELV) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,485,574 shares of the company's stock after buying an additional 138,380 shares during the quarter. Vanguard Group Inc. owned 9.26% of Elevance Health worth $7,926,028,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ELV. Mutual Advisors LLC increased its stake in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after acquiring an additional 52 shares during the period. Czech National Bank lifted its holdings 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 in the last quarter. Benjamin Edwards Inc. boosted its holdings in Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock valued at $27,858,000 after acquiring an additional 50,603 shares during the last quarter. Diversified Trust Co raised its stake in shares of Elevance Health by 13.7% during the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company's stock worth $8,328,000 after buying an additional 2,725 shares during the last quarter. Finally, JB Capital LLC increased its holdings in Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after purchasing an additional 8,038 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

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Elevance Health Price Performance

Shares of ELV stock traded down $3.17 during trading hours on Thursday, hitting $427.37. The stock had a trading volume of 304,712 shares, compared to its average volume of 1,318,741. The stock has a market capitalization of $97.16 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The stock's 50-day moving average price is $402.56 and its two-hundred day moving average price is $422.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current 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. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. Elevance Health's dividend payout ratio is presently 26.71%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Truist Financial dropped their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $519.81.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were 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 in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company's stock.

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.