Elevance Health, Inc. (NYSE:ELV) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 19.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,638 shares of the company’s stock after selling 2,100 shares during the period. Flputnam Investment Management Co.’s holdings in Elevance Health were worth $4,074,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ELV. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 3rd quarter valued at about $25,000. Fortis Capital Advisors LLC bought a new position in shares of Elevance Health during the 4th quarter valued at about $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Elevance Health during the 3rd quarter valued at about $30,000. TD Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter valued at about $30,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Elevance Health during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ELV shares. Royal Bank of Canada raised their target price on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a report on Monday, April 8th. Finally, Barclays assumed coverage on shares of Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $569.00.

Elevance Health Stock Up 1.6 %

ELV traded up $7.95 during midday trading on Tuesday, hitting $508.04. 216,420 shares of the company’s stock traded hands, compared to its average volume of 1,014,821. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $521.18. The company has a market cap of $118.22 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s fifty day simple moving average is $507.68 and its 200-day simple moving average is $481.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same quarter last year, the firm posted $5.23 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.28%. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

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.