Crestline Management LP Buys 1,704 Shares of Elevance Health, Inc. (NYSE:ELV)

Crestline Management LP lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 135.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,966 shares of the company's stock after acquiring an additional 1,704 shares during the period. Crestline Management LP's holdings in Elevance Health were worth $1,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tobam grew its stake in Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after acquiring an additional 27 shares during the last quarter. Austin Private Wealth LLC raised its position in Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after purchasing an additional 29 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Elevance Health by 2.1% in the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after purchasing an additional 30 shares in the last quarter. Finally, RDA Financial Network increased its position in shares of Elevance Health by 0.5% during the 4th quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after purchasing an additional 32 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 3.0%

Shares of NYSE ELV traded up $12.29 during trading on Monday, reaching $416.87. The company had a trading volume of 2,027,930 shares, compared to its average volume of 1,474,753. The stock has a market cap of $94.18 billion, a PE ratio of 16.28, a P/E/G ratio of 1.18 and a beta of 0.66. 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 business's 50-day moving average is $424.13 and its 200 day moving average is $404.41. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

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

Elevance Health Dividend Announcement

The firm 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. This represents a $6.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ELV shares. Argus set a $465.00 price target on shares of Elevance Health in a research report on Friday, April 25th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Mizuho lifted their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Insider Activity

In other Elevance Health 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 sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. 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 in the last 90 days. Company insiders own 0.29% of the company's stock.

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.