Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,441 shares of the company’s stock after purchasing an additional 454 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in Elevance Health were worth $2,376,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Vanguard Group Inc. increased its position in shares of Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock worth $7,926,028,000 after acquiring an additional 138,380 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 purchasing an additional 464,137 shares during the period. Wellington Management Group LLP increased its holdings in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 purchasing an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC raised its position in Elevance Health by 1.7% in the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock valued at $1,728,722,000 after purchasing an additional 76,896 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health 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 transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock worth $3,521,612 over the last 90 days. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $400.09 on Thursday. The stock has a market capitalization of $90.39 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The company’s 50-day simple moving average is $421.75 and its 200-day simple moving average is $403.61. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion for 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%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ELV. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays upped their price target on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $510.38.

About Elevance Health

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.