CSS LLC IL increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 34.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,820 shares of the company's stock after buying an additional 720 shares during the period. CSS LLC IL's holdings in Elevance Health were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Mutual Advisors LLC grew its position in shares of Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after buying an additional 52 shares during the last quarter. JB Capital LLC boosted its stake in Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after acquiring an additional 8,038 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after purchasing an additional 326,543 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE increased its position in shares of Elevance Health by 15.8% during the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company's stock worth $11,837,000 after purchasing an additional 4,372 shares in the last quarter. Finally, VELA Investment Management LLC lifted its holdings in shares of Elevance Health by 101.6% during the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock valued at $765,000 after purchasing an additional 1,045 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on ELV shares. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, Truist Financial boosted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.
Get Our Latest Analysis on Elevance Health
Elevance Health Stock Performance
NYSE:ELV traded up $1.80 during trading hours on Tuesday, reaching $374.07. The company had a trading volume of 587,949 shares, compared to its average volume of 1,523,382. 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 firm has a market cap of $84.52 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The business'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 results on Tuesday, April 22nd. The company reported $11.97 earnings per share (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 net margin of 3.38% and a return on equity of 18.28%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.
Elevance Health Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.
Insider Activity
In related news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. The trade was a 19.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on 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 transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at $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. Insiders have sold 8,535 shares of company stock worth $3,521,612 in the last ninety days. Company insiders own 0.29% of the company's stock.
About Elevance Health
(
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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