MML Investors Services LLC Boosts Stake in Elevance Health, Inc. (NYSE:ELV)

MML Investors Services LLC increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,356 shares of the company's stock after buying an additional 10,527 shares during the period. MML Investors Services LLC's holdings in Elevance Health were worth $27,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management bought a new position in Elevance Health in the fourth quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the fourth quarter valued at $29,000. Lee Danner & Bass Inc. purchased a new stake in Elevance Health in the 4th quarter worth approximately $30,000. Finally, Crews Bank & Trust purchased a new stake in shares of Elevance Health in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 in the last quarter. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target on the stock in a report on Monday, March 17th. Barclays lifted their target price on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Robert W. Baird reissued a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Finally, StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $509.44.

Elevance Health Stock Performance

Elevance Health stock traded down $7.24 during mid-day trading on Friday, reaching $421.55. 1,534,488 shares of the company traded hands, compared to its average volume of 1,457,101. The firm's fifty day moving average is $420.00 and its two-hundred day moving average is $408.48. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a market capitalization of $95.43 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. Elevance Health's dividend payout ratio is presently 26.71%.

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.