Voloridge Investment Management LLC Purchases 294,323 Shares of Elevance Health, Inc. (NYSE:ELV)

Voloridge Investment Management LLC grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 155.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,369 shares of the company's stock after acquiring an additional 294,323 shares during the period. Elevance Health comprises about 0.6% of Voloridge Investment Management LLC's portfolio, making the stock its 15th largest holding. Voloridge Investment Management LLC owned 0.21% of Elevance Health worth $178,315,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ELV. Waverly Advisors LLC grew its holdings in Elevance Health by 68.1% during the 4th quarter. Waverly Advisors LLC now owns 5,510 shares of the company's stock worth $2,033,000 after acquiring an additional 2,233 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Elevance Health during the fourth quarter worth $33,826,000. Wishbone Management LP raised its holdings in Elevance Health by 10.1% during the fourth quarter. Wishbone Management LP now owns 152,000 shares of the company's stock worth $56,073,000 after buying an additional 14,000 shares during the last quarter. Woodline Partners LP acquired a new position in Elevance Health during the fourth quarter worth $894,000. Finally, Sone Capital Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $2,310,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ELV. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Truist Financial increased their target price on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Argus set a $465.00 target price on shares of Elevance Health in a report on Friday, April 25th. Finally, Robert W. Baird restated a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $510.38.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value 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 $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at approximately $766,745.11. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

NYSE:ELV traded down $12.18 on Friday, reaching $372.33. 2,479,558 shares of the company's stock were exchanged, compared to its average volume of 1,527,027. 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 firm has a market cap of $84.12 billion, a price-to-earnings ratio of 14.54, a P/E/G 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 stock has a fifty day simple moving average of $419.53 and a 200-day simple moving average of $402.88.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The company 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 predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio 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.