US Bancorp DE Has $28.51 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

US Bancorp DE grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,461 shares of the company's stock after acquiring an additional 2,396 shares during the quarter. US Bancorp DE's holdings in Elevance Health were worth $28,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Sanders Capital LLC increased its stake in Elevance Health by 1.4% in the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company's stock valued at $1,855,750,000 after acquiring an additional 58,013 shares during the period. Baillie Gifford & Co. boosted its holdings in Elevance Health by 0.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company's stock valued at $1,456,132,000 after purchasing an additional 27,986 shares in the last quarter. Norges Bank bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $1,347,434,000. Morgan Stanley raised its holdings in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company's stock worth $1,212,521,000 after buying an additional 46,322 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Elevance Health by 2.4% during the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company's stock worth $1,052,175,000 after buying an additional 57,098 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ELV shares. Barclays upped their price target on Elevance Health from $584.00 to $621.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Wells Fargo & Company increased their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. StockNews.com upgraded shares of Elevance Health from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 20th. Mizuho raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Finally, 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. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $587.42.

Elevance Health Trading Down 4.1 %

ELV stock traded down $22.53 during trading on Friday, hitting $521.41. The company had a trading volume of 1,533,777 shares, compared to its average volume of 785,444. The firm has a 50-day moving average price of $523.69 and a 200-day moving average price of $498.11. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $550.34. 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 cap of $121.19 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.20 and a beta of 0.79.

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 company had revenue of $42.27 billion during 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 revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $9.46 EPS. As a group, analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Monday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 24.64%.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the 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 transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Elevance Health 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.