First Trust Direct Indexing L.P. Purchases 1,876 Shares of Elevance Health, Inc. (NYSE:ELV)

First Trust Direct Indexing L.P. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 32.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,722 shares of the company's stock after purchasing an additional 1,876 shares during the period. First Trust Direct Indexing L.P.'s holdings in Elevance Health were worth $3,641,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Elevance Health by 45,888.1% during the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company's stock worth $1,205,750,000 after buying an additional 255,138 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company's stock worth $159,726,000 after buying an additional 249,533 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company's stock worth $279,063,000 after buying an additional 234,439 shares during the last quarter. Schroder Investment Management Group increased its holdings in Elevance Health by 18.2% during the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company's stock worth $579,493,000 after buying an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Elevance Health by 59.3% during the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company's stock worth $214,011,000 after buying an additional 182,889 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Elevance Health from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 25th. Barclays lifted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group lifted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a "buy" rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average price target of $587.42.

Elevance Health Price Performance

NYSE:ELV traded down $3.74 during mid-day trading on Wednesday, hitting $524.84. 905,285 shares of the stock traded hands, compared to its average volume of 1,051,812. The business's 50-day moving average price is $512.71 and its 200 day moving average price is $487.94. The company has a market cap of $121.98 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the previous year, the business posted $9.46 earnings per share. Elevance Health's revenue for the quarter was up .9% on a year-over-year basis. On average, analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.24%. Elevance Health's payout ratio is presently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Felicia F. Norwood sold 14,111 shares of the business's stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company's stock, valued at $4,554,500. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.

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