Elevance Health, Inc. (NYSE:ELV) Stake Lessened by GTS Securities LLC

GTS Securities LLC reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 92.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,875 shares of the company's stock after selling 24,522 shares during the quarter. GTS Securities LLC's holdings in Elevance Health were worth $692,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. Norges Bank acquired a new position in shares of Elevance Health during the 4th quarter worth about $1,135,014,000. Wellington Management Group LLP raised its stake in shares of Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after buying an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after buying an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after buying an additional 895,658 shares in the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $294,751,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial raised their price objective on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Barclays lifted their price objective on Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Guggenheim reiterated a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four equities 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $510.38.

Insider Buying and Selling

In other news, CFO Mark Kaye sold 4,588 shares of the 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 completion of the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the 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 sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 in the last three months. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Up 1.6%

Shares of NYSE ELV traded up $6.12 during midday trading on Friday, reaching $386.65. 473,257 shares of the company's stock were exchanged, compared to its average volume of 1,527,979. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $87.36 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The business's fifty day moving average price is $415.24 and its two-hundred day moving average price is $401.68.

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

Elevance Health Dividend Announcement

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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 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.