Brevan Howard Capital Management LP Has $2.05 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Brevan Howard Capital Management LP grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 86.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,548 shares of the company's stock after purchasing an additional 2,568 shares during the period. Brevan Howard Capital Management LP's holdings in Elevance Health were worth $2,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Mutual Advisors LLC increased its stake in shares of Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after acquiring an additional 52 shares during the last quarter. Czech National Bank increased its position in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company's stock worth $18,551,000 after purchasing an additional 3,049 shares during the last quarter. Diversified Trust Co raised its stake in shares of Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company's stock worth $8,328,000 after purchasing an additional 2,725 shares in the last quarter. JB Capital LLC grew its stake in shares of Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after buying an additional 8,038 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after buying an additional 326,543 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The shares were 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 position. The sale was disclosed in a 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 firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock worth $3,521,612 over the last three months. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

ELV stock traded down $7.86 during midday trading on Friday, hitting $404.52. The stock had a trading volume of 948,113 shares, compared to its average volume of 1,470,007. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week 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. The stock has a 50-day simple moving average of $424.13 and a 200 day simple moving average of $404.58. The firm has a market capitalization of $91.40 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Mizuho boosted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Barclays upped their price target on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Four equities research 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.

Elevance Health 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.