Elevance Health, Inc. (NYSE:ELV) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,996 shares of the company’s stock after selling 84 shares during the period. Foster & Motley Inc.’s holdings in Elevance Health were worth $941,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in Elevance Health by 45,888.1% during the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after purchasing an additional 255,138 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Elevance Health by 212.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock valued at $159,726,000 after acquiring an additional 249,533 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Elevance Health by 57.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock valued at $279,063,000 after acquiring an additional 234,439 shares during the last quarter. Schroder Investment Management Group lifted its stake in Elevance Health by 18.2% in the 3rd quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock worth $579,493,000 after purchasing an additional 204,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Elevance Health by 59.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock worth $214,011,000 after purchasing an additional 182,889 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ELV. Royal Bank of Canada increased their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Truist Financial reissued a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Barclays upped their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company lifted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $587.64.

Elevance Health Trading Up 0.1 %

NYSE ELV opened at $532.92 on Wednesday. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $539.11. The stock has a market capitalization of $123.86 billion, a P/E ratio of 20.14, a PEG ratio of 1.16 and a beta of 0.78. The firm’s 50-day moving average is $510.23 and its two-hundred day moving average is $485.10. 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 (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter last year, the company posted $9.46 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated 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 directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% 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.