Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Marathon Asset Management Ltd

Marathon Asset Management Ltd boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 240,582 shares of the company's stock after acquiring an additional 13,470 shares during the quarter. Elevance Health comprises about 3.2% of Marathon Asset Management Ltd's investment portfolio, making the stock its 5th biggest holding. Marathon Asset Management Ltd owned 0.11% of Elevance Health worth $104,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Vanguard Group Inc. raised its holdings in Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock worth $7,926,028,000 after buying an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after buying an additional 464,137 shares during the period. Wellington Management Group LLP raised its holdings in Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after buying an additional 1,893,947 shares during the period. Geode Capital Management LLC raised its holdings in Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock worth $1,826,447,000 after buying an additional 115,971 shares during the period. Finally, Sanders Capital LLC raised its holdings in Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after buying an additional 76,896 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ELV shares. Argus set a $465.00 price objective on Elevance Health in a report on Friday, April 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Barclays lowered their target price on Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $498.87.

Elevance Health Stock Up 2.2%

Shares of NYSE ELV traded up $8.07 during trading hours on Friday, hitting $381.25. The stock had a trading volume of 1,774,243 shares, compared to its average volume of 1,581,942. The company has a market capitalization of $86.14 billion, a P/E ratio of 11.12, a P/E/G ratio of 0.97 and a beta of 0.60. The firm's 50-day moving average price is $392.98 and its two-hundred day moving average price is $398.64. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43.

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

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.79%. Elevance Health's dividend payout ratio (DPR) 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.