Vise Technologies Inc. Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Vise Technologies Inc. lifted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,947 shares of the company's stock after buying an additional 830 shares during the period. Vise Technologies Inc.'s holdings in Elevance Health were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accredited Wealth Management LLC purchased a new position in Elevance Health in the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the fourth quarter worth approximately $26,000. OFI Invest Asset Management purchased a new position in Elevance Health during the fourth quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the fourth quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the 4th quarter worth $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Barclays lifted their target price on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.

Elevance Health Trading Up 0.5%

NYSE:ELV traded up $1.87 on Wednesday, reaching $377.85. 2,158,758 shares of the company's stock were exchanged, compared to its average volume of 1,531,221. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $85.37 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The business has a fifty day moving average of $417.18 and a 200-day moving average of $402.16. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping 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 firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. As a group, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Insiders Place Their Bets

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