Occudo Quantitative Strategies LP Purchases New Position in Elevance Health, Inc. (NYSE:ELV)

Occudo Quantitative Strategies LP purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,574 shares of the company's stock, valued at approximately $3,532,000. Elevance Health accounts for about 0.6% of Occudo Quantitative Strategies LP's portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Mutual Advisors LLC raised its position in shares of Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after buying an additional 52 shares in the last quarter. Czech National Bank boosted its holdings in shares of Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after purchasing an additional 3,049 shares in the last quarter. JB Capital LLC increased its stake in shares of Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after purchasing an additional 8,038 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Elevance Health by 82.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after buying an additional 326,543 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE boosted its stake in Elevance Health by 15.8% in the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company's stock valued at $11,837,000 after buying an additional 4,372 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This represents a 25.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,535 shares of company stock worth $3,521,612. Insiders own 0.29% of the company's stock.

Elevance Health Trading Up 3.4%

NYSE ELV traded up $13.20 during mid-day trading on Friday, reaching $403.20. 2,542,606 shares of the stock were exchanged, compared to its average volume of 1,506,262. The stock has a market cap of $91.10 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The stock has a 50 day simple moving average of $422.87 and a 200-day simple moving average of $403.76.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

Analyst Ratings Changes

A number of research firms have recently commented on ELV. Argus set a $465.00 target price on shares of Elevance Health in a report on Friday, April 25th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reiterated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Robert W. Baird restated a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and an average price target of $510.38.

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.