Sivia Capital Partners LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 902 shares of the company's stock, valued at approximately $392,000.
A number of other institutional investors also recently added to or reduced their stakes in ELV. Norges Bank purchased a new position in Elevance Health in the fourth quarter worth approximately $1,135,014,000. Wellington Management Group LLP lifted its stake in Elevance Health by 42.5% in the fourth 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. GAMMA Investing LLC raised its holdings in Elevance Health by 81,726.5% during the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after purchasing an additional 1,472,712 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Elevance Health by 47.6% during the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Elevance Health by 6,817.8% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on ELV shares. Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Robert W. Baird reissued a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Guggenheim reissued a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Truist Financial raised their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $499.53.
Check Out Our Latest Stock Report on Elevance Health
Insider Buying and Selling at Elevance Health
In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.
Elevance Health Stock Performance
Shares of ELV opened at $393.70 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $88.95 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.18 and a beta of 0.60. The company's fifty day moving average is $409.50 and its two-hundred day moving average is $400.82. 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 (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 net margin of 3.38% and a return on equity of 18.28%. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.
Elevance Health Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.74%. Elevance Health's dividend payout ratio is currently 26.69%.
Elevance Health Company Profile
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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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