Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Ethic Inc.

Ethic Inc. raised its position in Elevance Health, Inc. (NYSE:ELV) by 28.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,399 shares of the company’s stock after acquiring an additional 5,471 shares during the quarter. Ethic Inc.’s holdings in Elevance Health were worth $9,001,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock worth $7,926,028,000 after purchasing an additional 138,380 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock worth $3,917,004,000 after buying an additional 464,137 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock valued at $1,826,447,000 after acquiring an additional 115,971 shares during the last quarter. Finally, Sanders Capital LLC raised its position in shares of Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock worth $1,728,722,000 after acquiring an additional 76,896 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $404.52 on Friday. 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 company has a market cap of $91.40 billion, a PE ratio of 15.80, a P/E/G ratio of 1.18 and a beta of 0.66. The stock has a fifty day moving average price of $424.13 and a 200 day moving average price of $404.58. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. Elevance Health’s dividend payout ratio is currently 26.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELV. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Guggenheim reaffirmed a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $510.38.

Insider Activity at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the company’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 value of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their position. 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 over the last three months. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health 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.