Elevance Health, Inc. (NYSE:ELV) Stock Position Increased by Voloridge Investment Management LLC

Voloridge Investment Management LLC lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 155.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 483,369 shares of the company's stock after buying an additional 294,323 shares during the period. Elevance Health makes up 0.6% of Voloridge Investment Management LLC's holdings, making the stock its 15th largest position. Voloridge Investment Management LLC owned about 0.21% of Elevance Health worth $178,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ELV. Wealthcare Advisory Partners LLC raised its stake in shares of Elevance Health by 40.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,138 shares of the company's stock worth $789,000 after buying an additional 621 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of Elevance Health by 6.0% in the 4th quarter. Merit Financial Group LLC now owns 3,418 shares of the company's stock worth $1,261,000 after acquiring an additional 192 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Elevance Health by 11.5% in the 4th quarter. Arkadios Wealth Advisors now owns 1,107 shares of the company's stock worth $408,000 after acquiring an additional 114 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Elevance Health by 354.1% in the 4th quarter. Grove Bank & Trust now owns 2,575 shares of the company's stock worth $950,000 after acquiring an additional 2,008 shares during the last quarter. Finally, Client 1ST Advisory Group LLC acquired a new position in shares of Elevance Health in the 4th quarter worth $312,000. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ELV shares. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Truist Financial lifted their price target on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 8,535 shares of company stock worth $3,521,612. Company insiders own 0.29% of the company's stock.

Elevance Health Trading Up 0.0%

Shares of ELV opened at $403.38 on Tuesday. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $91.14 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.18 and a beta of 0.66. The stock's 50-day moving average price is $422.29 and its 200 day moving average price is $403.57.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, research 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. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. Elevance Health's dividend payout ratio is currently 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.

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