Vulcan Value Partners LLC Raises Stake in Elevance Health, Inc. (NYSE:ELV)

Vulcan Value Partners LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 41.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 393,892 shares of the company's stock after purchasing an additional 114,607 shares during the period. Elevance Health makes up approximately 2.4% of Vulcan Value Partners LLC's portfolio, making the stock its 15th biggest holding. Vulcan Value Partners LLC owned about 0.17% of Elevance Health worth $145,234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management purchased a new position in Elevance Health during the 4th quarter worth $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health in the 4th quarter worth $29,000. Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $30,000. Finally, Crews Bank & Trust bought a new position in shares of Elevance Health during the fourth quarter valued at about $34,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $0.28 during midday trading on Tuesday, reaching $413.54. 1,132,700 shares of the company traded hands, compared to its average volume of 1,462,422. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm's fifty day moving average price is $420.43 and its two-hundred day moving average price is $406.68. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $93.43 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.65%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on 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 owns 1,847 shares of the company's stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ELV shares. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Wells Fargo & Company decreased their target price 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. Finally, Barclays increased their price target on shares of Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $510.38.

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.