Whittier Trust Co. of Nevada Inc. Raises Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Whittier Trust Co. of Nevada Inc. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,806 shares of the company's stock after purchasing an additional 1,446 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Elevance Health were worth $13,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its holdings in Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after acquiring an additional 1,039,612 shares in the last quarter. Stifel Financial Corp grew its position in shares of Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock valued at $370,794,000 after purchasing an additional 538,978 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of 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 raised its position in shares of 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 during the last quarter. Finally, World Investment Advisors LLC purchased a new stake in Elevance Health in the 3rd quarter valued at approximately $129,221,000. Institutional investors and hedge funds own 89.24% of the company's stock.

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Elevance Health Trading Down 1.0 %

Shares of Elevance Health stock traded down $4.20 during trading hours on Tuesday, reaching $423.03. The stock had a trading volume of 1,309,735 shares, compared to its average volume of 1,319,262. 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 1 year low of $362.21 and a 1 year high of $567.26. The firm has a market capitalization of $96.18 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.18 and a beta of 0.86. The firm has a 50 day simple moving average of $401.13 and a two-hundred day simple moving average of $423.64.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS 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%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health's dividend payout ratio is 26.71%.

Analysts Set New Price Targets

ELV has been the topic of a number of analyst reports. Barclays increased their price objective on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company reduced their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Two 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $519.81.

Insider Activity at Elevance Health

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