Jacobs Levy Equity Management Inc. Has $242.98 Million Position in Elevance Health, Inc. (NYSE:ELV)

Jacobs Levy Equity Management Inc. lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 658,658 shares of the company's stock after purchasing an additional 102,306 shares during the quarter. Elevance Health comprises about 0.9% of Jacobs Levy Equity Management Inc.'s investment portfolio, making the stock its 21st largest holding. Jacobs Levy Equity Management Inc. owned 0.28% of Elevance Health worth $242,979,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In other 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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated 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 sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock worth $3,521,612 in the last three months. 0.29% of the stock is owned by insiders.

Elevance Health Stock Up 0.2%

NYSE ELV traded up $0.64 during trading on Wednesday, reaching $376.04. 2,187,454 shares of the company's stock were exchanged, compared to its average volume of 1,490,820. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market capitalization of $84.96 billion, a PE ratio of 14.68, a P/E/G 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. The company's fifty day simple moving average is $423.27 and its 200-day simple moving average is $403.95.

Elevance Health (NYSE:ELV - Get Free Report) last announced 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. 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. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.82%. Elevance Health's dividend payout ratio is 26.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ELV shares. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Truist Financial lifted their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Guggenheim reaffirmed a "buy" rating and set a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.

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.