Sapient Capital LLC Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Sapient Capital LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,068 shares of the company's stock, valued at approximately $2,390,000.

A number of other large investors have also recently modified their holdings of ELV. Raymond James Financial Services Advisors Inc. increased its stake in Elevance Health by 22.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 69,871 shares of the company's stock valued at $30,423,000 after acquiring an additional 12,967 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Elevance Health by 34.3% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 466 shares of the company's stock valued at $203,000 after purchasing an additional 119 shares during the last quarter. Buffington Mohr McNeal raised its holdings in shares of Elevance Health by 7.8% during the 3rd quarter. Buffington Mohr McNeal now owns 7,148 shares of the company's stock valued at $3,113,000 after buying an additional 520 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in Elevance Health by 7.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 15,445 shares of the company's stock worth $6,725,000 after buying an additional 1,132 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new stake in Elevance Health in the third quarter worth approximately $98,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 0.3 %

NYSE ELV traded up $1.35 on Friday, hitting $526.96. The company's stock had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. The firm has a market cap of $122.48 billion, a P/E ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The company's 50-day simple moving average is $513.54 and its 200 day simple moving average is $488.91. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts' consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm's revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $9.46 earnings per share. Research analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health's payout ratio is currently 24.64%.

Analyst Ratings Changes

Several research firms have commented on ELV. Cantor Fitzgerald reissued an "overweight" rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Truist Financial reissued a "buy" rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. UBS Group upped their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a "buy" rating in a research report on Friday, April 19th. Mizuho lifted their price objective on Elevance Health from $575.00 to $585.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group increased their target price on Elevance Health from $602.00 to $604.00 and gave the company a "buy" rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $587.42.

Insider Buying and Selling

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the business's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company's stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm'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 transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares of the company's stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

About Elevance Health

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.