Elevance Health, Inc. (NYSE:ELV) Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. increased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,922 shares of the company's stock after acquiring an additional 1,527 shares during the period. First Citizens Bank & Trust Co.'s holdings in Elevance Health were worth $9,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Consolidated Portfolio Review Corp purchased a new stake in Elevance Health during the fourth quarter worth $219,000. Golden State Wealth Management LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $75,000. Empowered Funds LLC boosted its stake in shares of Elevance Health by 47.4% during the 4th quarter. Empowered Funds LLC now owns 61,872 shares of the company's stock worth $22,825,000 after acquiring an additional 19,907 shares in the last quarter. Empirical Finance LLC grew its position in shares of Elevance Health by 10.4% during the 4th quarter. Empirical Finance LLC now owns 10,300 shares of the company's stock valued at $3,800,000 after acquiring an additional 973 shares during the period. Finally, Alliance Wealth Advisors LLC increased its stake in shares of Elevance Health by 29.2% in the 4th quarter. Alliance Wealth Advisors LLC now owns 903 shares of the company's stock valued at $333,000 after purchasing an additional 204 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value 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 approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELV. Mizuho raised their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Argus set a $465.00 price target on shares of Elevance Health in a research note on Friday, April 25th. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Truist Financial boosted their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $499.53.

Elevance Health Trading Up 2.4%

Shares of ELV opened at $393.70 on Monday. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The firm 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 firm has a 50-day moving average price of $409.50 and a 200 day moving average price of $400.80. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

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 business had revenue of $48.77 billion during 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%. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued 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 (DPR) is currently 26.69%.

About Elevance Health

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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.