Desjardins Global Asset Management Inc. Acquires 44 Shares of Elevance Health, Inc. (NYSE:ELV)

Desjardins Global Asset Management Inc. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 3,922 shares of the company’s stock after purchasing an additional 44 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Elevance Health were worth $1,849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELV. Buffington Mohr McNeal raised its holdings in shares of Elevance Health by 6.6% in the fourth quarter. Buffington Mohr McNeal now owns 7,618 shares of the company’s stock valued at $3,592,000 after buying an additional 470 shares during the last quarter. Capital Analysts LLC raised its stake in shares of Elevance Health by 1.2% in the fourth quarter. Capital Analysts LLC now owns 20,866 shares of the company’s stock worth $9,839,000 after acquiring an additional 254 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in shares of Elevance Health in the fourth quarter worth about $424,000. Keel Point LLC lifted its position in shares of Elevance Health by 3.6% during the fourth quarter. Keel Point LLC now owns 966 shares of the company’s stock worth $456,000 after purchasing an additional 34 shares in the last quarter. Finally, Aurora Private Wealth Inc. bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 1.4 %

ELV opened at $507.02 on Wednesday. The firm’s fifty day moving average is $507.94 and its two-hundred day moving average is $482.10. The firm has a market cap of $117.98 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.10 and a beta of 0.78. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $521.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping the consensus estimate of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter last year, the business posted $5.23 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio is 25.90%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Barclays initiated coverage on Elevance Health in a research note on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target on the stock. Royal Bank of Canada raised their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company reduced their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $569.00.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

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.