Elevance Health, Inc. (NYSE:ELV) Holdings Decreased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 53.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,360 shares of the company's stock after selling 317,659 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.12% of Elevance Health worth $102,687,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

ELV has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Barclays lifted their target price on Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Mizuho raised their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Finally, Guggenheim reissued a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, 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 can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm'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 completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at $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. Insiders sold a total of 8,535 shares of company stock valued at $3,521,612 over the last 90 days. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Down 0.7 %

ELV traded down $2.86 during trading on Tuesday, hitting $413.45. The company had a trading volume of 382,925 shares, compared to its average volume of 1,681,204. The company has a market cap of $93.41 billion, a PE ratio of 16.14, a P/E/G ratio of 1.18 and a beta of 0.66. 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, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The business has a 50-day moving average of $422.81 and a 200-day moving average of $404.59.

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

Elevance Health Dividend Announcement

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

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.