Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Waverly Advisors LLC

Waverly Advisors LLC raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 68.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,510 shares of the company's stock after buying an additional 2,233 shares during the period. Waverly Advisors LLC's holdings in Elevance Health were worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Elevance Health by 0.6% during the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 buying an additional 464,137 shares during the period. Wellington Management Group LLP raised its holdings in shares of 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 acquiring an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $1,826,447,000 after acquiring an additional 115,971 shares during the period. Finally, Sanders Capital LLC grew its holdings in Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after acquiring an additional 76,896 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV traded down $12.18 during trading hours on Monday, reaching $372.33. 2,479,558 shares of the company traded hands, compared to its average volume of 1,527,027. 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 business has a fifty day moving average price of $419.53 and a 200-day moving average price of $402.69. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The stock has a market capitalization of $84.12 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.18 and a beta of 0.66.

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

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders 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 yield of 1.84%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Truist Financial lifted their target price on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Barclays raised their price target on shares of Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $510.38.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business'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 transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This trade represents a 19.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,535 shares of company stock worth $3,521,612. Company 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.