Elevance Health, Inc. (NYSE:ELV) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,425 shares of the company’s stock after selling 9,360 shares during the period. Mackenzie Financial Corp’s holdings in Elevance Health were worth $42,169,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Investors Research Corp increased its position in shares of Elevance Health by 16.6% in the fourth quarter. Investors Research Corp now owns 274 shares of the company’s stock worth $129,000 after acquiring an additional 39 shares in the last quarter. Invesco LLC purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $216,000. Strs Ohio increased its position in shares of Elevance Health by 30.0% in the fourth quarter. Strs Ohio now owns 255,687 shares of the company’s stock worth $120,571,000 after acquiring an additional 58,985 shares in the last quarter. Grove Bank & Trust increased its position in shares of Elevance Health by 3.6% in the fourth quarter. Grove Bank & Trust now owns 687 shares of the company’s stock worth $324,000 after acquiring an additional 24 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC grew its position in Elevance Health by 12.5% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 4,587 shares of the company’s stock valued at $2,163,000 after purchasing an additional 510 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated 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 approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Elevance Health Trading Up 1.4 %

Shares of ELV stock opened at $507.02 on Wednesday. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $521.18. The stock has a market cap of $117.98 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a fifty day moving average of $507.94 and a 200-day moving average of $482.10.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share (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 during the quarter, compared to analysts’ expectations of $42.19 billion. During the same quarter in the prior year, the company posted $5.23 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio (DPR) is 25.90%.

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.