KBC Group NV Has $158.91 Million Stake in Elevance Health, Inc. (NYSE:ELV)

KBC Group NV lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 21.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 365,352 shares of the company's stock after selling 102,359 shares during the quarter. KBC Group NV owned about 0.16% of Elevance Health worth $158,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Convergence Financial LLC increased its stake in shares of Elevance Health by 36.0% during the first quarter. Convergence Financial LLC now owns 1,728 shares of the company's stock valued at $752,000 after acquiring an additional 457 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Elevance Health by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 849,454 shares of the company's stock worth $369,479,000 after purchasing an additional 3,339 shares during the period. Marathon Asset Management Ltd boosted its stake in Elevance Health by 5.9% in the 1st quarter. Marathon Asset Management Ltd now owns 240,582 shares of the company's stock worth $104,645,000 after purchasing an additional 13,470 shares during the period. Confluence Wealth Services Inc. acquired a new position in Elevance Health in the 1st quarter worth approximately $566,000. Finally, BSW Wealth Partners boosted its stake in Elevance Health by 34.6% in the 1st quarter. BSW Wealth Partners now owns 954 shares of the company's stock worth $415,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of ELV stock traded up $7.72 during trading hours on Tuesday, reaching $396.68. 772,979 shares of the company were exchanged, compared to its average volume of 1,579,406. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The stock's fifty day moving average is $392.66 and its two-hundred day moving average is $398.83. The company has a market cap of $89.62 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 0.97 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ELV shares. Mizuho lifted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Guggenheim reaffirmed a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Finally, Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $498.87.

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.