Elevance Health, Inc. (NYSE:ELV) Stake Boosted by Vulcan Value Partners LLC

Vulcan Value Partners LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 41.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393,892 shares of the company's stock after acquiring an additional 114,607 shares during the period. Elevance Health accounts for about 2.4% of Vulcan Value Partners LLC's holdings, making the stock its 15th biggest position. Vulcan Value Partners LLC owned approximately 0.17% of Elevance Health worth $145,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Tobam increased its position in Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after purchasing an additional 27 shares during the period. Jacobi Capital Management LLC raised its position in Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after acquiring an additional 27 shares in the last quarter. Austin Private Wealth LLC boosted its position in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after purchasing an additional 29 shares in the last quarter. Quent Capital LLC grew its stake in shares of Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after purchasing an additional 30 shares during the period. Finally, RDA Financial Network increased its holdings in shares of Elevance Health by 0.5% in the 4th quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after purchasing an additional 32 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Argus set a $465.00 target price on Elevance Health in a report on Friday, April 25th. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Truist Financial raised their target price on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred 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. The trade was a 19.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company's stock.

Elevance Health Trading Down 1.1 %

Shares of ELV traded down $4.69 during trading hours on Thursday, hitting $415.89. The stock had a trading volume of 493,977 shares, compared to its average volume of 1,700,281. The company's fifty day simple moving average is $421.60 and its 200 day simple moving average is $406.82. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market cap of $93.96 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) 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 firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced 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. This represents a $6.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

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.