Worldquant Millennium Advisors LLC Acquires New Shares in Elevance Health, Inc. (NYSE:ELV)

Worldquant Millennium Advisors LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 91,693 shares of the company's stock, valued at approximately $33,826,000.

Several other hedge funds also recently made changes to their positions in the company. Wishbone Management LP lifted its stake in shares of Elevance Health by 10.1% in the 4th 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. Woodline Partners LP bought a new position in Elevance Health in the fourth quarter worth $894,000. Sone Capital Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter worth about $2,310,000. Vident Advisory LLC grew its position in shares of Elevance Health by 335.4% in the 4th quarter. Vident Advisory LLC now owns 43,454 shares of the company's stock worth $16,030,000 after buying an additional 33,473 shares during the period. Finally, Triglav Skladi D.O.O. purchased a new stake in shares of Elevance Health in the 4th quarter worth about $1,837,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Mizuho lifted their target price 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, Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average target price of $510.38.

Elevance Health Stock Performance

Elevance Health stock traded down $12.18 during mid-day trading on Friday, reaching $372.33. 2,479,558 shares of the stock traded hands, compared to its average volume of 1,527,054. The stock has a market capitalization of $84.12 billion, a PE ratio of 14.54, a price-to-earnings-growth 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 12-month low of $357.45 and a 12-month high of $567.26. The business's 50-day moving average is $419.53 and its 200-day moving average is $403.06.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. As a group, sell-side 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. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is owned by company insiders.

Elevance Health Company 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.