Woodline Partners LP Acquires New Stake in Elevance Health, Inc. (NYSE:ELV)

Woodline Partners LP bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,424 shares of the company's stock, valued at approximately $894,000.

A number of other large investors have also recently modified their holdings of the business. Tobam boosted its holdings in shares of Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Jacobi Capital Management LLC boosted 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 valued at $325,000 after acquiring an additional 27 shares in the last quarter. Austin Private Wealth LLC boosted its holdings in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after acquiring an additional 29 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after acquiring an additional 30 shares in the last quarter. Finally, Keystone Financial Services boosted its holdings in shares of Elevance Health by 2.4% during the 4th quarter. Keystone Financial Services now owns 1,436 shares of the company's stock valued at $530,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the business'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 value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,535 shares of company stock worth $3,521,612. Insiders own 0.29% of the company's stock.

Elevance Health Stock Up 1.6%

Elevance Health stock traded up $6.24 during midday trading on Friday, reaching $386.77. The stock had a trading volume of 836,291 shares, compared to its average volume of 1,529,638. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a market capitalization of $87.39 billion, a P/E ratio of 15.11, a PEG ratio of 1.18 and a beta of 0.66. The company has a fifty day moving average price of $415.24 and a two-hundred day moving average price of $401.68. 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 (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates 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 expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

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 paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.77%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. Truist Financial raised their price objective on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.

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.