Voya Investment Management LLC Reduces Stock Position in Elevance Health, Inc. (NYSE:ELV)

Voya Investment Management LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 74.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,753 shares of the company's stock after selling 581,470 shares during the period. Voya Investment Management LLC owned approximately 0.09% of Elevance Health worth $75,119,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mutual Advisors LLC raised its stake in shares of Elevance Health by 2.5% in the fourth 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 raised its position in 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 buying an additional 3,049 shares during the last quarter. Diversified Trust Co grew its stake in shares of Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company's stock worth $8,328,000 after acquiring an additional 2,725 shares in the last quarter. JB Capital LLC increased its stake in 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 buying an additional 8,038 shares during the last quarter. Finally, Tidal Investments LLC boosted 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 purchasing an additional 3,956 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded up $3.31 during trading on Wednesday, reaching $416.96. The company had a trading volume of 362,911 shares, compared to its average volume of 1,458,106. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $94.21 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a fifty day moving average of $420.88 and a two-hundred day moving average of $406.73.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The firm 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%. Equities research 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 announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock worth $3,521,612 in the last 90 days. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Barclays lifted their price target on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Elevance Health Company 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.