Elevance Health, Inc. (NYSE:ELV) Stock Holdings Increased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 620 shares of the company’s stock after purchasing an additional 55 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Elevance Health were worth $292,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its position in Elevance Health by 45,888.1% during 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 purchasing an additional 255,138 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock valued at $159,726,000 after purchasing an additional 249,533 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position 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 purchasing an additional 234,439 shares in the last quarter. Schroder Investment Management Group grew its position in Elevance Health by 18.2% during the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock valued at $579,493,000 after purchasing an additional 204,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Elevance Health by 59.3% during the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock valued at $214,011,000 after purchasing an additional 182,889 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s 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 sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

NYSE:ELV traded up $5.26 during trading hours on Thursday, hitting $538.61. 456,566 shares of the company traded hands, compared to its average volume of 1,036,637. The stock has a market capitalization of $125.18 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.16 and a beta of 0.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $515.17 and a 200 day moving average of $490.56. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for 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 business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.46 EPS. On average, analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced 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 payout ratio is 24.64%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. UBS Group boosted their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Barclays boosted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Truist Financial reissued a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, Jefferies Financial Group boosted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

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.