Elevance Health, Inc. (NYSE:ELV) Holdings Decreased by AXS Investments LLC

AXS Investments LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 6.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 724 shares of the company’s stock after selling 51 shares during the period. AXS Investments LLC’s holdings in Elevance Health were worth $341,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Elevance Health during the fourth quarter valued at approximately $1,347,434,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Elevance Health during the 4th quarter valued at $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 worth $398,054,000 after buying an additional 517,116 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after buying an additional 255,138 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock valued at $279,063,000 after buying an additional 234,439 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, 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 can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ELV shares. UBS Group upped their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. StockNews.com upgraded shares of Elevance Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 20th. Mizuho upped their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group raised their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Buy” and an average target price of $587.42.

Elevance Health Trading Down 4.1 %

NYSE:ELV opened at $521.41 on Friday. The stock has a market cap of $121.19 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.15 and a beta of 0.79. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. 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’s 50-day moving average is $523.69 and its two-hundred day moving average is $498.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The firm 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 firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $9.46 earnings per share. As a group, equities research analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.25%. Elevance Health’s payout ratio is 24.64%.

Elevance Health Company 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.