NorthCrest Asset Manangement LLC Buys 818 Shares of Elevance Health, Inc. (NYSE:ELV)

NorthCrest Asset Manangement LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,854 shares of the company's stock after buying an additional 818 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Elevance Health were worth $14,725,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Elevance Health by 0.6% during the fourth 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in Elevance Health by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after acquiring an additional 464,137 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. Geode Capital Management LLC raised its stake in 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 in the last quarter. Finally, Sanders Capital LLC lifted its position in Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after purchasing an additional 76,896 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ELV shares. Royal Bank of Canada restated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $498.87.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value 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 represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

Elevance Health Stock Down 2.1%

Shares of NYSE ELV traded down $7.93 during mid-day trading on Monday, hitting $376.62. 1,620,220 shares of the stock traded hands, compared to its average volume of 1,558,802. The company has a market cap of $85.09 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.18 and a beta of 0.60. The stock has a fifty day moving average price of $404.71 and a 200-day moving average price of $400.15. 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 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

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.