Stifel Financial Corp decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 700,701 shares of the company's stock after selling 12,326 shares during the quarter. Stifel Financial Corp owned approximately 0.30% of Elevance Health worth $258,508,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ELV. Norges Bank purchased a new stake in Elevance Health during the fourth quarter worth $1,135,014,000. Wellington Management Group LLP raised its position in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after acquiring an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after purchasing an additional 895,658 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in Elevance Health by 17.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company's stock valued at $1,060,901,000 after purchasing an additional 437,103 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.
Elevance Health Stock Performance
NYSE ELV traded down $7.24 on Friday, reaching $421.55. 1,534,488 shares of the company's stock traded hands, compared to its average volume of 1,457,101. The stock has a 50 day moving average price of $420.00 and a 200-day moving average price of $408.48. The firm has a market cap of $95.43 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.
Elevance Health (NYSE:ELV - Get Free Report) last issued its 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. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.71%.
Insider Buying and Selling
In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction 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 sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47 % decrease in their position. The transaction was disclosed in a legal filing 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 company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on ELV shares. Guggenheim restated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a report on Wednesday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their target price 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $509.44.
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About Elevance Health
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Free Report)
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.
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