Sentry Investment Management LLC Invests $330,000 in Elevance Health, Inc. (NYSE:ELV)

Sentry Investment Management LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 780 shares of the company's stock, valued at approximately $330,000.

Other institutional investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its stake in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after purchasing an additional 326,543 shares during the last quarter. VELA Investment Management LLC increased its stake in shares of Elevance Health by 101.6% in the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock worth $765,000 after buying an additional 1,045 shares during the period. Cambiar Investors LLC bought a new position in shares of Elevance Health during the fourth quarter valued at about $45,614,000. E. Ohman J or Asset Management AB boosted its stake in Elevance Health by 11.1% in the 4th quarter. E. Ohman J or Asset Management AB now owns 10,440 shares of the company's stock worth $3,851,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Unison Asset Management LLC grew its holdings in shares of Elevance Health by 6.4% during the fourth quarter. Unison Asset Management LLC now owns 25,557 shares of the company's stock valued at $9,428,000 after buying an additional 1,526 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent analyst reports. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday. Finally, Robert W. Baird reissued a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $499.53.

Elevance Health Price Performance

Shares of ELV stock traded up $4.54 during mid-day trading on Thursday, hitting $384.61. The company had a trading volume of 2,130,339 shares, compared to its average volume of 1,535,701. 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 stock's 50 day moving average price is $411.30 and its 200-day moving average price is $400.91. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The company has a market capitalization of $86.90 billion, a P/E 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 announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared 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. This represents a $6.84 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company 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.