Boston Common Asset Management LLC Has $8.83 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Boston Common Asset Management LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 21.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,305 shares of the company's stock after purchasing an additional 3,579 shares during the period. Boston Common Asset Management LLC's holdings in Elevance Health were worth $8,832,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Tobam lifted its position in shares of Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after buying an additional 27 shares during the last quarter. Austin Private Wealth LLC raised its stake in shares of Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after buying an additional 29 shares during the last quarter. Quent Capital LLC raised its stake in shares of Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after buying an additional 30 shares during the last quarter. Finally, Keystone Financial Services raised its stake in shares of Elevance Health by 2.4% during the fourth quarter. Keystone Financial Services now owns 1,436 shares of the company's stock worth $530,000 after buying an additional 33 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the firm'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 owns 18,977 shares of the company's stock, valued at $8,061,809.14. This trade 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 valued at $3,521,612. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ELV shares. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Guggenheim reissued a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Barclays boosted their price target on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Finally, Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $510.38.

Elevance Health Stock Up 0.9%

Elevance Health stock traded up $3.49 during mid-day trading on Friday, reaching $384.02. The company's stock had a trading volume of 3,195,009 shares, compared to its average volume of 1,540,804. The company has a market capitalization of $86.76 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The business's 50 day simple moving average is $414.46 and its 200 day simple moving average is $401.48. 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 (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 10th. 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.