University of Texas Texas AM Investment Management Co. Sells 5,071 Shares of Elevance Health, Inc. (NYSE:ELV)

University of Texas Texas AM Investment Management Co. decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 38.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,132 shares of the company's stock after selling 5,071 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Elevance Health were worth $3,000,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mutual Advisors LLC lifted its position in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after purchasing an additional 52 shares in the last quarter. JB Capital LLC lifted its holdings in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock worth $3,462,000 after acquiring an additional 8,038 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Elevance Health by 82.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock valued at $276,073,000 after buying an additional 326,543 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE increased its holdings in Elevance Health by 15.8% during the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company's stock worth $11,837,000 after buying an additional 4,372 shares during the last quarter. Finally, VELA Investment Management LLC lifted its position in shares of Elevance Health by 101.6% in the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock valued at $765,000 after buying an additional 1,045 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reissued a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Barclays raised their target price on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Truist Financial boosted their price target on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $510.38.

Elevance Health Price Performance

Shares of NYSE ELV traded up $5.06 during midday trading on Wednesday, reaching $381.04. 1,097,178 shares of the company were exchanged, compared to its average volume of 1,711,377. The stock's 50-day moving average price is $417.18 and its 200-day moving average price is $402.16. The stock has a market cap of $86.09 billion, a P/E ratio of 14.88, a PEG ratio of 1.18 and a beta of 0.66. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data 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 return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This trade represents a 25.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. 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. Insiders own 0.29% of the company's stock.

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.