Van Den Berg Management I Inc. Buys 4,994 Shares of Elevance Health, Inc. (NYSE:ELV)

Van Den Berg Management I Inc. lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 43.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,598 shares of the company's stock after purchasing an additional 4,994 shares during the quarter. Elevance Health comprises about 1.8% of Van Den Berg Management I Inc.'s investment portfolio, making the stock its 21st biggest position. Van Den Berg Management I Inc.'s holdings in Elevance Health were worth $6,123,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Elevance Health during the 4th quarter valued at $1,135,014,000. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after buying an additional 1,893,947 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after acquiring an additional 1,039,612 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after purchasing an additional 895,658 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in Elevance Health in the 4th quarter worth approximately $294,751,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Truist Financial upped their price target on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Mizuho lifted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $510.38.

Elevance Health Stock Down 0.6 %

ELV traded down $2.42 during trading on Tuesday, hitting $411.40. The company had a trading volume of 497,658 shares, compared to its average volume of 1,711,914. 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 1-year low of $362.21 and a 1-year high of $567.26. The business has a 50-day moving average of $420.43 and a 200-day moving average of $406.68. The company has a market cap of $92.95 billion, a PE ratio of 16.06, a P/E/G ratio of 1.18 and a beta of 0.77.

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 for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.66%. Elevance Health's dividend payout ratio is 26.69%.

Insiders Place Their Bets

In other news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is currently owned by company 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.