Systematic Financial Management LP Has $649,000 Position in Elevance Health, Inc. (NYSE:ELV)

Systematic Financial Management LP grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 82.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,760 shares of the company’s stock after acquiring an additional 795 shares during the quarter. Systematic Financial Management LP’s holdings in Elevance Health were worth $649,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELV. Norges Bank acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $1,135,014,000. Wellington Management Group LLP grew its position in shares of Elevance Health by 42.5% in the fourth 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 during the last quarter. First Eagle Investment Management LLC grew its position in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock valued at $335,254,000 after purchasing an additional 895,658 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $294,751,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 3.4%

Shares of ELV opened at $403.20 on Friday. The stock has a market cap of $91.10 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.18 and a beta of 0.66. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a 50-day moving average price of $422.47 and a two-hundred day moving average price of $403.66.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 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 net margin of 3.38% and a return on equity of 18.28%. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced 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. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s payout ratio is currently 26.69%.

Insider Transactions at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the business’s 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 in the last three months. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. Mizuho raised their price target on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Argus set a $465.00 target price on Elevance Health in a research report on Friday, April 25th. 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. Royal Bank of Canada reissued an “outperform” rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reissued a “neutral” rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $510.38.

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.