Greenleaf Trust Grows Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Greenleaf Trust lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,866 shares of the company's stock after purchasing an additional 975 shares during the quarter. Greenleaf Trust's holdings in Elevance Health were worth $2,986,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in Elevance Health in the fourth quarter valued at approximately $1,135,014,000. Wellington Management Group LLP raised its holdings in Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. GAMMA Investing LLC raised its holdings in Elevance Health by 81,726.5% in the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after acquiring an additional 1,472,712 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after acquiring an additional 1,039,612 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after acquiring an additional 895,658 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. 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, Mizuho raised 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. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $495.80.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction dated 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 owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $5.82 during midday trading on Friday, hitting $340.04. The stock had a trading volume of 1,698,140 shares, compared to its average volume of 1,631,093. The company has a market capitalization of $76.83 billion, a PE ratio of 13.27, a P/E/G ratio of 0.88 and a beta of 0.60. The stock has a 50 day moving average price of $380.88 and a two-hundred day moving average price of $397.40. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 1 year low of $337.61 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's payout ratio 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.