Dimensional Fund Advisors LP Purchases 11,093 Shares of Elevance Health, Inc. (NYSE:ELV)

Dimensional Fund Advisors LP boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,860,723 shares of the company's stock after purchasing an additional 11,093 shares during the quarter. Dimensional Fund Advisors LP owned about 0.79% of Elevance Health worth $877,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC lifted its stake in Elevance Health by 2.9% in the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company's stock valued at $351,000 after buying an additional 21 shares during the period. Clearstead Advisors LLC boosted its stake in Elevance Health by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company's stock worth $1,096,000 after acquiring an additional 22 shares during the last quarter. Financial Counselors Inc. grew its holdings in Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company's stock valued at $994,000 after purchasing an additional 22 shares during the period. Sugarloaf Wealth Management LLC increased its stake in Elevance Health by 8.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company's stock valued at $131,000 after purchasing an additional 22 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in Elevance Health by 2.5% in the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company's stock worth $418,000 after purchasing an additional 22 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ELV shares. Jefferies Financial Group boosted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a "buy" rating in a report on Friday, April 19th. Barclays raised their price target on Elevance Health from $584.00 to $621.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. StockNews.com cut Elevance Health from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 25th. Truist Financial reiterated a "buy" rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, UBS Group lifted their price objective on Elevance Health from $585.00 to $605.00 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $587.42.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business'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 transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company's stock, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company's stock.

Elevance Health Stock Up 0.1 %

NYSE ELV traded up $0.60 during trading on Friday, hitting $539.18. The stock had a trading volume of 841,374 shares, compared to its average volume of 1,080,086. The company has a market capitalization of $125.32 billion, a PE ratio of 20.38, a P/E/G ratio of 1.19 and a beta of 0.79. The company's 50-day moving average price is $516.71 and its two-hundred day moving average price is $491.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $543.13.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analysts' expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.46 EPS. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared 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. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health's dividend payout ratio (DPR) is 24.64%.

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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