Voleon Capital Management LP Purchases Shares of 7,233 Elevance Health, Inc. (NYSE:ELV)

Voleon Capital Management LP purchased a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,233 shares of the company's stock, valued at approximately $2,668,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Utah Retirement Systems lifted its position in Elevance Health by 0.5% in the 4th quarter. Utah Retirement Systems now owns 38,650 shares of the company's stock valued at $14,258,000 after acquiring an additional 200 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Elevance Health by 19.5% during the fourth quarter. AQR Capital Management LLC now owns 418,636 shares of the company's stock valued at $154,435,000 after buying an additional 68,392 shares during the last quarter. Northern Trust Corp increased its holdings in Elevance Health by 16.5% in the 4th quarter. Northern Trust Corp now owns 2,449,028 shares of the company's stock worth $903,446,000 after buying an additional 346,557 shares in the last quarter. Oxford Asset Management LLP increased its holdings in Elevance Health by 15.5% in the 4th quarter. Oxford Asset Management LLP now owns 1,776 shares of the company's stock worth $655,000 after buying an additional 238 shares in the last quarter. Finally, Vulcan Value Partners LLC raised its position in Elevance Health by 41.0% in the 4th quarter. Vulcan Value Partners LLC now owns 393,892 shares of the company's stock worth $145,234,000 after buying an additional 114,607 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 0.0 %

Shares of Elevance Health stock traded down $0.05 on Tuesday, reaching $416.26. The company had a trading volume of 243,321 shares, compared to its average volume of 1,461,148. The firm has a market cap of $94.05 billion, a price-to-earnings ratio of 16.24, 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. The firm's 50-day moving average price is $422.81 and its two-hundred day moving average price is $404.59. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

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

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This trade represents a 19.34 % 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELV. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Robert W. Baird restated a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Mizuho raised their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and a consensus 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.