Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Stevens Capital Management LP

Stevens Capital Management LP lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 171.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,260 shares of the company’s stock after acquiring an additional 4,584 shares during the quarter. Elevance Health accounts for 0.9% of Stevens Capital Management LP’s investment portfolio, making the stock its 19th largest position. Stevens Capital Management LP’s holdings in Elevance Health were worth $3,424,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Syon Capital LLC lifted its holdings in Elevance Health by 31.0% during the 4th quarter. Syon Capital LLC now owns 3,219 shares of the company’s stock worth $1,518,000 after buying an additional 761 shares in the last quarter. Meritage Portfolio Management lifted its holdings in Elevance Health by 3.9% during the 4th quarter. Meritage Portfolio Management now owns 12,678 shares of the company’s stock worth $5,978,000 after buying an additional 478 shares in the last quarter. Bailard Inc. lifted its holdings in Elevance Health by 2.6% during the 4th quarter. Bailard Inc. now owns 6,740 shares of the company’s stock worth $3,178,000 after buying an additional 173 shares in the last quarter. Community Bank N.A. lifted its holdings in Elevance Health by 12.8% during the 4th quarter. Community Bank N.A. now owns 5,004 shares of the company’s stock worth $2,360,000 after buying an additional 566 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Elevance Health by 2.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,996 shares of the company’s stock valued at $2,356,000 after purchasing an additional 133 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ELV has been the topic of a number of analyst reports. Truist Financial restated a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. UBS Group increased their target price on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group increased their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company lifted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Price Performance

Shares of NYSE ELV traded down $2.42 on Friday, hitting $537.26. The company’s stock had a trading volume of 700,726 shares, compared to its average volume of 1,059,909. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The company has a market capitalization of $124.87 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a 50 day moving average of $511.40 and a 200-day moving average of $485.81.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.46 earnings per share. As a group, research analysts predict that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.