Price T Rowe Associates Inc. MD boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,618,062 shares of the company's stock after buying an additional 464,137 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 4.58% of Elevance Health worth $3,917,004,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Mutual Advisors LLC increased its position in Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank increased its holdings in Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company's stock worth $18,551,000 after buying an additional 3,049 shares during the last quarter. Diversified Trust Co raised its position in Elevance Health by 13.7% during the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company's stock valued at $8,328,000 after acquiring an additional 2,725 shares in the last quarter. JB Capital LLC raised its position in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after acquiring an additional 8,038 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Elevance Health by 60.6% in the third quarter. Tidal Investments LLC now owns 10,485 shares of the company's stock worth $5,452,000 after acquiring an additional 3,956 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.
Elevance Health Stock Performance
Shares of NYSE:ELV traded down $1.87 during trading on Monday, hitting $419.81. 322,970 shares of the stock were exchanged, compared to its average volume of 1,711,696. The company has a market capitalization of $94.85 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company's fifty day simple moving average is $420.00 and its 200-day simple moving average is $407.30.
Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.63%. Elevance Health's dividend payout ratio is currently 26.69%.
Insider Transactions at Elevance Health
In related news, 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 in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on ELV. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Argus upgraded Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research note on Monday, March 17th. Robert W. Baird reissued a "neutral" rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Finally, Barclays upped their target price on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $509.44.
Read Our Latest Stock Report on ELV
About Elevance Health
(
Free Report)
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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