Arrowpoint Investment Partners Singapore Pte. Ltd. Acquires New Shares in Elevance Health, Inc. (NYSE:ELV)

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 700 shares of the company's stock, valued at approximately $258,000.

Other institutional investors have also recently made changes to their positions in the company. Accredited Wealth Management LLC purchased a new stake in Elevance Health during the 4th quarter worth about $25,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the fourth quarter worth about $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the topic of several recent analyst reports. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Guggenheim restated a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Insider Buying and Selling at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The stock was 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 owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is currently owned by insiders.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $412.49 on Wednesday. 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 52-week low of $357.45 and a 52-week high of $567.26. The company has a fifty day moving average of $422.19 and a 200-day moving average of $403.63. The stock has a market capitalization of $93.20 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current 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 $1.71 dividend. 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 1.66%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

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.

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