UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Elevance Health, Inc. (NYSE:ELV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,352,163 shares of the company's stock after buying an additional 199,550 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.01% of Elevance Health worth $867,713,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vista Investment Management lifted its position in Elevance Health by 14.9% during the fourth quarter. Vista Investment Management now owns 4,689 shares of the company's stock valued at $1,730,000 after acquiring an additional 607 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in Elevance Health by 155.7% in the 4th quarter. Voloridge Investment Management LLC now owns 483,369 shares of the company's stock worth $178,315,000 after buying an additional 294,323 shares during the period. Waverly Advisors LLC boosted its holdings in shares of Elevance Health by 68.1% in the 4th quarter. Waverly Advisors LLC now owns 5,510 shares of the company's stock valued at $2,033,000 after acquiring an additional 2,233 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of Elevance Health in the fourth quarter worth $33,826,000. Finally, Wishbone Management LP lifted its position in Elevance Health by 10.1% during the fourth quarter. Wishbone Management LP now owns 152,000 shares of the company's stock valued at $56,073,000 after purchasing an additional 14,000 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Activity at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 in the last quarter. Company insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $403.38 on Tuesday. The company has a market cap of $91.14 billion, a P/E ratio of 15.75, a PEG ratio of 1.18 and a beta of 0.66. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $422.29 and a 200 day moving average price of $403.57. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $46.26 billion. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid 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 1.70%. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Analyst Ratings Changes

ELV has been the topic of several analyst reports. Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wells Fargo & Company lowered their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Mizuho raised their price target 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. Finally, Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $510.38.

About Elevance Health

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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