Voloridge Investment Management LLC Has $178.32 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Voloridge Investment Management LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 155.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 483,369 shares of the company’s stock after buying an additional 294,323 shares during the quarter. Elevance Health makes up approximately 0.6% of Voloridge Investment Management LLC’s holdings, making the stock its 15th largest holding. Voloridge Investment Management LLC’s holdings in Elevance Health were worth $178,315,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ELV. Wealthcare Advisory Partners LLC lifted its holdings in Elevance Health by 40.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,138 shares of the company’s stock worth $789,000 after buying an additional 621 shares in the last quarter. Merit Financial Group LLC lifted its holdings in Elevance Health by 6.0% during the 4th quarter. Merit Financial Group LLC now owns 3,418 shares of the company’s stock worth $1,261,000 after buying an additional 192 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Elevance Health by 11.5% during the 4th quarter. Arkadios Wealth Advisors now owns 1,107 shares of the company’s stock worth $408,000 after buying an additional 114 shares in the last quarter. Grove Bank & Trust lifted its holdings in Elevance Health by 354.1% during the 4th quarter. Grove Bank & Trust now owns 2,575 shares of the company’s stock worth $950,000 after buying an additional 2,008 shares in the last quarter. Finally, Client 1ST Advisory Group LLC acquired a new position in Elevance Health during the 4th quarter worth $312,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated 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 transaction, the chief financial officer now 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 90 days, insiders sold 8,535 shares of company stock worth $3,521,612. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $403.38 on Tuesday. The company has a market capitalization of $91.14 billion, a PE ratio of 15.75, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 12 month low of $357.45 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’s fifty day simple moving average is $422.29 and its 200 day simple moving average is $403.57.

Elevance Health (NYSE:ELV) last released 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. The firm had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ELV shares. Guggenheim reissued a “buy” rating and issued a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Truist Financial increased their price target on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus 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.