Scotia Capital Inc. lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,610 shares of the company's stock after selling 2,881 shares during the quarter. Scotia Capital Inc.'s holdings in Elevance Health were worth $9,400,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 acquiring an additional 464,137 shares during the period. Sanders Capital LLC grew its holdings in shares of 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 last quarter. Capital International Investors increased its position in shares of Elevance Health by 0.9% during the 4th quarter. Capital International Investors now owns 3,880,630 shares of the company's stock worth $1,431,559,000 after purchasing an additional 35,576 shares in the last quarter. Northern Trust Corp lifted its holdings in Elevance Health by 16.5% during the 4th quarter. Northern Trust Corp now owns 2,449,028 shares of the company's stock valued at $903,446,000 after purchasing an additional 346,557 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Elevance Health by 9.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,352,163 shares of the company's stock valued at $867,713,000 after buying an additional 199,550 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on ELV shares. Morgan Stanley dropped their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Leerink Partners reaffirmed a "market perform" rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Mizuho lifted their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Argus restated a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Finally, Guggenheim lowered their target price on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $418.19.
Read Our Latest Stock Report on Elevance Health
Insider Buying and Selling at Elevance Health
In other news, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.
Elevance Health Price Performance
ELV opened at $274.10 on Monday. The company has a fifty day moving average price of $349.86 and a two-hundred day moving average price of $389.08. The firm has a market capitalization of $61.72 billion, a PE ratio of 11.66, a P/E/G ratio of 1.01 and a beta of 0.58. Elevance Health, Inc. has a 52 week low of $273.84 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.
Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same period last year, the firm earned $10.12 earnings per share. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.
Elevance Health Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.
Elevance Health Profile
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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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