Stephens Inc. AR Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Stephens Inc. AR boosted its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 19,267 shares of the company’s stock after acquiring an additional 507 shares during the period. Stephens Inc. AR’s holdings in Elevance Health were worth $9,086,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ELV. Norges Bank purchased a new position in Elevance Health during the fourth quarter worth approximately $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new position in Elevance Health during the fourth quarter worth approximately $467,141,000. Canoe Financial LP raised its stake in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after acquiring an additional 517,116 shares during the period. International Assets Investment Management LLC raised its stake in shares of Elevance Health by 45,888.1% in the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after acquiring an additional 255,138 shares during the period. Finally, Capital International Investors raised its stake in shares of Elevance Health by 7.9% in the 4th quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock valued at $1,591,237,000 after acquiring an additional 248,150 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated 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 transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $538.97 on Friday. The firm has a market cap of $125.27 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $550.34. The firm has a fifty day moving average of $526.51 and a two-hundred day moving average of $502.70.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the business earned $9.46 EPS. As a group, research analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Analysts Set New Price Targets

ELV has been the topic of a number of research reports. Wells Fargo & Company raised their target price 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. Bank of America raised their target price on shares of Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays raised their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $601.64.

Get Our Latest Stock Analysis on Elevance Health

Elevance Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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