University of Texas Texas AM Investment Management Co. Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Norges Bank purchased a new position in shares of Elevance Health in the fourth quarter valued at about $1,135,014,000. Wellington Management Group LLP grew its stake in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in 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 valued at $1,189,828,000 after purchasing an additional 1,039,612 shares during the period. Orion Portfolio Solutions LLC raised its position in Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after purchasing an additional 895,658 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new stake in Elevance Health in the 4th quarter worth approximately $294,751,000. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock worth $3,521,612 in the last ninety days. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ELV shares. Robert W. Baird reissued a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Barclays lifted 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. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $510.38.

Elevance Health Stock Performance

NYSE ELV traded down $12.18 during trading hours on Monday, hitting $372.33. The company's stock had a trading volume of 2,479,558 shares, compared to its average volume of 1,527,027. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company's 50 day simple moving average is $419.53 and its two-hundred day simple moving average is $402.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a market cap of $84.12 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.84%. Elevance Health's payout ratio 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.