Elevance Health, Inc. (NYSE:ELV) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,022,363 shares of the company's stock after selling 586,581 shares during the period. Nuveen Asset Management LLC owned about 0.87% of Elevance Health worth $746,050,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Czech National Bank lifted its holdings in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after purchasing an additional 3,049 shares in the last quarter. Fiduciary Alliance LLC lifted its holdings in Elevance Health by 701.9% in the 4th quarter. Fiduciary Alliance LLC now owns 4,956 shares of the company's stock valued at $1,828,000 after purchasing an additional 4,338 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Elevance Health in the 4th quarter valued at about $423,000. Professional Financial Advisors LLC lifted its holdings in Elevance Health by 19.8% in the 4th quarter. Professional Financial Advisors LLC now owns 2,851 shares of the company's stock valued at $1,052,000 after purchasing an additional 471 shares in the last quarter. Finally, Signal Advisors Wealth LLC lifted its holdings in shares of Elevance Health by 30.4% during the 4th quarter. Signal Advisors Wealth LLC now owns 797 shares of the company's stock worth $294,000 after acquiring an additional 186 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Robert W. Baird reiterated a "neutral" rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Barclays increased their price objective on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $510.38.

Elevance Health Stock Up 3.4%

NYSE:ELV traded up $13.20 during trading hours on Friday, hitting $403.20. The stock had a trading volume of 2,542,606 shares, compared to its average volume of 1,506,262. 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, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The business has a 50 day simple moving average of $422.47 and a two-hundred day simple moving average of $403.71. The company has a market cap of $91.10 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

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

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction 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. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is currently owned by corporate insiders.

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.