1,865 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Team Hewins LLC

Team Hewins LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,865 shares of the company's stock, valued at approximately $879,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. abrdn plc grew its holdings in Elevance Health by 86.8% during the fourth quarter. abrdn plc now owns 278,397 shares of the company's stock valued at $131,281,000 after purchasing an additional 129,364 shares during the period. Canoe Financial LP grew its holdings in Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company's stock valued at $398,054,000 after purchasing an additional 517,116 shares during the period. Cerity Partners LLC grew its holdings in Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company's stock valued at $24,663,000 after purchasing an additional 9,199 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Elevance Health during the fourth quarter valued at approximately $218,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Elevance Health by 8.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 55,262 shares of the company's stock valued at $26,060,000 after buying an additional 4,362 shares during the period. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ELV has been the subject of several research analyst reports. StockNews.com upgraded shares of Elevance Health from a "buy" rating to a "strong-buy" rating in a report on Monday. Jefferies Financial Group upped 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 upped their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an "overweight" rating in a report on Friday, April 19th. Wells Fargo & Company upped their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an "overweight" rating in a report on Friday, April 19th. Finally, Truist Financial reiterated a "buy" rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $587.42.

Elevance Health Stock Performance

NYSE ELV traded down $3.86 on Thursday, hitting $543.94. 530,087 shares of the stock were exchanged, compared to its average volume of 1,008,598. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business's fifty day moving average is $522.84 and its 200 day moving average is $497.04. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The company has a market capitalization of $126.42 billion, a PE ratio of 20.64, a P/E/G ratio of 1.20 and a beta of 0.79.

Elevance Health (NYSE:ELV - Get Free Report) last released 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. 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 for the quarter, compared to analyst estimates of $42.49 billion. During the same period last year, the firm earned $9.46 earnings per share. Elevance Health's revenue for the quarter was up .9% compared to the same quarter last year. Research analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Monday, June 10th. Elevance Health's dividend payout ratio is 24.64%.

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm's stock in a transaction dated 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 $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.

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