Wells Fargo & Company MN Acquires 14,762 Shares of Elevance Health, Inc. (NYSE:ELV)

Wells Fargo & Company MN grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 344,466 shares of the company's stock after acquiring an additional 14,762 shares during the quarter. Wells Fargo & Company MN owned about 0.15% of Elevance Health worth $162,436,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Elevance Health during the fourth quarter worth approximately $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Elevance Health during the fourth quarter worth approximately $467,141,000. Canoe Financial LP raised its stake in shares of Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company's stock worth $398,054,000 after purchasing an additional 517,116 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 purchasing an additional 255,138 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of 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 purchasing an additional 249,533 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ELV. Truist Financial restated a "buy" rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Jefferies Financial Group increased their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a "buy" rating in a research report on Friday, April 19th. Mizuho increased their price objective on Elevance Health from $575.00 to $585.00 and gave the stock a "buy" rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their price objective on Elevance Health from $557.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Finally, StockNews.com upgraded Elevance Health from a "buy" rating to a "strong-buy" rating in a research report on Monday. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $587.42.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 31,460 shares of the company's stock, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Shares of ELV traded up $2.13 during trading hours on Wednesday, reaching $547.74. 766,417 shares of the company traded hands, compared to its average volume of 1,013,405. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $127.31 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. The stock has a fifty day simple moving average of $522.08 and a 200 day simple moving average of $496.68.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts' consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion for 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 business's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $9.46 earnings per share. As a group, research analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Monday, June 10th. Elevance Health's payout ratio is currently 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.