Nixon Peabody Trust Co. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 82.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,805 shares of the company's stock after acquiring an additional 9,846 shares during the quarter. Nixon Peabody Trust Co.'s holdings in Elevance Health were worth $9,484,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of ELV. Vanguard Group Inc. grew its holdings in Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after purchasing an additional 138,380 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 last quarter. Wellington Management Group LLP boosted its position in shares of Elevance Health by 42.5% in 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after purchasing an additional 115,971 shares during the last quarter. Finally, Sanders Capital LLC grew 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 valued at $1,728,722,000 after buying an additional 76,896 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.
Elevance Health Stock Up 1.2%
Shares of ELV traded up $4.54 during mid-day trading on Thursday, reaching $384.61. 2,130,339 shares of the stock traded hands, compared to its average volume of 1,535,702. The stock has a fifty day simple moving average of $411.30 and a 200 day simple moving average of $400.91. 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 cap of $86.90 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.18 and a beta of 0.66.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The firm 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 3.38% and a return on equity of 18.28%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health's dividend payout ratio is presently 26.69%.
Insiders Place Their Bets
In related news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the business's 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 sale, the chief financial officer now owns 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 disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Robert W. Baird reissued a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $499.53.
Read Our Latest Stock Analysis on ELV
Elevance Health Profile
(
Free Report)
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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