Manning & Napier Advisors LLC Buys 8,613 Shares of Elevance Health, Inc. (NYSE:ELV)

Manning & Napier Advisors LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 94.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,759 shares of the company's stock after purchasing an additional 8,613 shares during the period. Manning & Napier Advisors LLC's holdings in Elevance Health were worth $7,724,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ELV. Accredited Wealth Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management bought a new stake in Elevance Health during the fourth quarter worth $29,000. WealthTrak Capital Management LLC bought a new stake in Elevance Health during the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in Elevance Health during the fourth quarter worth $30,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 0.6%

ELV opened at $373.71 on Monday. The stock has a market cap of $84.43 billion, a PE ratio of 14.58, a P/E/G ratio of 0.95 and a beta of 0.60. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The business's fifty day simple moving average is $398.68 and its 200 day simple moving average is $399.15.

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

Elevance Health Announces Dividend

The firm also recently declared 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 1.83%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the 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 transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ELV. Guggenheim reiterated a "buy" rating and set a $518.00 target price 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 report on Tuesday, April 15th. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Mizuho lifted their price target 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. Finally, Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $498.87.

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.

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