Systematic Financial Management LP Acquires 795 Shares of Elevance Health, Inc. (NYSE:ELV)

Systematic Financial Management LP raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 82.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,760 shares of the company's stock after buying an additional 795 shares during the period. Systematic Financial Management LP's holdings in Elevance Health were worth $649,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cypress Wealth Services LLC grew its stake in Elevance Health by 17.2% in the fourth quarter. Cypress Wealth Services LLC now owns 796 shares of the company's stock valued at $294,000 after purchasing an additional 117 shares in the last quarter. Fermata Advisors LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $287,000. Wealthcare Advisory Partners LLC increased its holdings in Elevance Health by 40.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,138 shares of the company's stock worth $789,000 after buying an additional 621 shares during the last quarter. Boston Common Asset Management LLC raised its position in Elevance Health by 38.4% during the fourth quarter. Boston Common Asset Management LLC now owns 16,726 shares of the company's stock valued at $6,170,000 after acquiring an additional 4,637 shares in the last quarter. Finally, Merit Financial Group LLC lifted its stake in Elevance Health by 6.0% in the fourth quarter. Merit Financial Group LLC now owns 3,418 shares of the company's stock valued at $1,261,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ELV shares. Mizuho increased their price target 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 reissued an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. Finally, Guggenheim reissued a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% 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 over the last quarter. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Shares of ELV stock traded down $12.40 during mid-day trading on Wednesday, reaching $400.09. The stock had a trading volume of 1,539,689 shares, compared to its average volume of 1,514,471. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $90.39 billion, a PE ratio of 15.62, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The firm's 50 day simple moving average is $422.19 and its 200 day simple moving average is $403.63.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors 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 yield of 1.71%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is presently 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.