Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Stanley Capital Management LLC

Stanley Capital Management LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 49.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,119 shares of the company's stock after acquiring an additional 21,019 shares during the period. Elevance Health comprises approximately 4.5% of Stanley Capital Management LLC's portfolio, making the stock its 5th largest position. Stanley Capital Management LLC's holdings in Elevance Health were worth $23,285,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after purchasing an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Elevance Health by 4.6% in 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 increased its stake 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 valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. Geode Capital Management LLC increased 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 during the period. Finally, Sanders Capital LLC increased its stake in Elevance Health by 1.7% in the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after purchasing an additional 76,896 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of ELV traded down $12.40 during mid-day trading on Wednesday, hitting $400.09. The company's stock had a trading volume of 1,539,689 shares, compared to its average volume of 1,514,471. The firm has a 50-day moving average price of $422.19 and a 200 day moving average price of $403.63. The stock has a market capitalization of $90.39 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.18 and a beta of 0.66. 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, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26.

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

Elevance Health Dividend Announcement

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

Analysts Set New Price Targets

ELV has been the topic of a number of recent research reports. Guggenheim restated a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average target price of $510.38.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was 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 of the company's stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock valued at $3,521,612 over the last ninety days. Corporate insiders own 0.29% of the company's stock.

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.