Integrated Advisors Network LLC Decreases Position in Elevance Health, Inc. (NYSE:ELV)

Integrated Advisors Network LLC lessened its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 41.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,461 shares of the company's stock after selling 2,481 shares during the period. Integrated Advisors Network LLC's holdings in Elevance Health were worth $1,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ELV. Vanguard Group Inc. raised its holdings in Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock worth $7,926,028,000 after purchasing an additional 138,380 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after buying an additional 464,137 shares in the last quarter. 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. Geode Capital Management LLC lifted its holdings in shares of Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after buying an additional 115,971 shares during the period. Finally, Sanders Capital LLC boosted its stake in shares of Elevance Health by 1.7% in the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after buying an additional 76,896 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ELV shares. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Barclays increased their price target on shares of Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Mizuho boosted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $510.38.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the company'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 transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares in the company, 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. Insiders sold a total of 8,535 shares of company stock valued at $3,521,612 over the last quarter. Company insiders own 0.29% of the company's stock.

Elevance Health Trading Up 0.5%

Shares of Elevance Health stock traded up $2.04 during mid-day trading on Thursday, hitting $379.99. 1,629,200 shares of the stock were exchanged, compared to its average volume of 1,531,612. The stock has a market capitalization of $85.85 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company has a 50-day simple moving average of $416.19 and a 200 day simple moving average of $401.99.

Elevance Health (NYSE:ELV - Get Free Report) last announced its 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 analyst estimates 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 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.