Elevance Health, Inc. (NYSE:ELV) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 79.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 488 shares of the company’s stock after selling 1,831 shares during the quarter. AlphaQuest LLC’s holdings in Elevance Health were worth $180,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC grew its position in Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares during the period. Sanders Capital LLC grew its position in Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after buying an additional 44,805 shares during the period. Wellington Management Group LLP grew its position in Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after buying an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $421.72 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm’s 50-day moving average is $395.45 and its two-hundred day moving average is $428.79. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a market capitalization of $95.88 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ELV shares. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Argus reaffirmed a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The shares were 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 approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The shares were 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. Company insiders own 0.35% of the company’s stock.

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.