PKO Investment Management Joint Stock Co Decreases Stock Position in Elevance Health, Inc. (NYSE:ELV)

PKO Investment Management Joint Stock Co trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,600 shares of the company's stock after selling 1,200 shares during the period. PKO Investment Management Joint Stock Co's holdings in Elevance Health were worth $1,566,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Elevance Health by 0.6% in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Elevance Health by 4.6% during the fourth 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 purchasing an additional 464,137 shares during the period. Wellington Management Group LLP boosted its holdings in 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 last quarter. Geode Capital Management LLC grew its position in Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock worth $1,826,447,000 after purchasing an additional 115,971 shares during the period. Finally, Sanders Capital LLC grew its position in Elevance Health by 1.7% in the 4th 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. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $376.62 on Tuesday. The stock has a market cap of $85.09 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26. The firm has a fifty day moving average price of $403.64 and a 200-day moving average price of $399.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last issued 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. The company had revenue of $48.77 billion during 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%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

Wall Street Analysts Forecast Growth

ELV has been the topic of several research analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Guggenheim reissued a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Mizuho boosted their price target on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $498.87.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the company'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 completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health 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.

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