Elevance Health, Inc. (NYSE:ELV) Shares Purchased by First Manhattan CO. LLC.

First Manhattan CO. LLC. lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 293.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,712 shares of the company's stock after buying an additional 3,514 shares during the quarter. First Manhattan CO. LLC.'s holdings in Elevance Health were worth $1,738,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the business'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 completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 over the last quarter. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELV. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Robert W. Baird restated a "neutral" rating and set a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Argus set a $465.00 target price on shares of Elevance Health in a report on Friday, April 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Truist Financial lifted their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Four 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 stock presently has an average rating of "Moderate Buy" and an average price target of $510.38.

Elevance Health Stock Up 0.2%

Shares of Elevance Health stock traded up $0.64 during trading on Wednesday, hitting $376.04. 2,187,454 shares of the stock traded hands, compared to its average volume of 1,490,820. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock's fifty day simple moving average is $423.94 and its 200 day simple moving average is $404.14. The firm has a market cap of $84.96 billion, a P/E ratio of 14.68, a price-to-earnings-growth 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.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly 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. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

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.