Hsbc Holdings PLC raised its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,804 shares of the company's stock after purchasing an additional 32,736 shares during the period. Hsbc Holdings PLC owned 0.33% of Elevance Health worth $280,793,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of ELV. Norges Bank purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $1,135,014,000. Wellington Management Group LLP lifted its stake in shares of Elevance Health by 42.5% during 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 buying an additional 1,893,947 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Elevance Health by 47.6% during the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after buying an additional 1,039,612 shares during the period. Orion Portfolio Solutions LLC lifted its stake in shares of Elevance Health by 6,817.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after buying an additional 895,658 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Elevance Health by 17.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company's stock valued at $1,060,901,000 after buying an additional 437,103 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.
Elevance Health Stock Down 1.7 %
Shares of ELV traded down $7.24 during midday trading on Friday, reaching $421.55. 1,534,488 shares of the company were exchanged, compared to its average volume of 1,460,139. The stock has a 50-day moving average price of $420.00 and a 200-day moving average price of $407.30. The company has a market cap of $95.43 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. 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 data 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 for 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%. Research 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. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.71%.
Insider Buying and Selling
In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated 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 owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several brokerages recently issued reports on ELV. Barclays upped their price objective on shares of Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a research note on Wednesday. Robert W. Baird reissued a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $509.44.
Get Our Latest Research Report on ELV
About Elevance Health
(
Free Report)
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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