Retirement Planning Group LLC NY Purchases New Shares in Elevance Health, Inc. (NYSE:ELV)

Retirement Planning Group LLC NY acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,553 shares of the company's stock, valued at approximately $1,311,000. Elevance Health makes up about 1.4% of Retirement Planning Group LLC NY's investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock worth $7,926,028,000 after buying an additional 138,380 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Elevance Health by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after acquiring an additional 464,137 shares during the last quarter. Wellington Management Group LLP increased its stake 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock worth $1,826,447,000 after acquiring an additional 115,971 shares during the last quarter. Finally, Sanders Capital LLC increased its stake in shares of Elevance Health by 1.7% in the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after acquiring an additional 76,896 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were 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 owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock worth $3,521,612 in the last 90 days. Corporate insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of analyst reports. Guggenheim reaffirmed a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Mizuho lifted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Barclays lifted their target price on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $510.38.

Elevance Health Stock Up 0.9%

Shares of ELV stock traded up $3.46 during trading on Tuesday, reaching $375.73. The company's stock had a trading volume of 1,938,372 shares, compared to its average volume of 1,528,673. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a market capitalization of $84.89 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.18 and a beta of 0.66. The stock's 50-day moving average price is $418.36 and its 200 day moving average price is $402.34. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26.

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

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

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.