Elevance Health, Inc. (NYSE:ELV) Stock Holdings Increased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 24.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,961 shares of the company's stock after purchasing an additional 15,148 shares during the period. QRG Capital Management Inc.'s holdings in Elevance Health were worth $33,040,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Accredited Wealth Management LLC purchased a new position in Elevance Health during the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health during the fourth quarter worth approximately $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the 4th quarter valued at $29,000. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $30,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Mark Kaye sold 4,588 shares of the business'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 sale, the chief financial officer now owns 18,977 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

NYSE:ELV traded down $7.93 during midday trading on Monday, reaching $376.62. 1,709,015 shares of the company traded hands, compared to its average volume of 1,558,819. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a fifty day moving average price of $404.71 and a 200 day moving average price of $400.15. The firm has a market capitalization of $85.09 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, 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. Stockholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.82%. Elevance Health's dividend payout ratio is presently 26.69%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. Guggenheim reissued a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $498.87.

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.