Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,020 shares of the company’s stock after purchasing an additional 1,512 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Elevance Health were worth $4,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Edgestream Partners L.P. acquired a new position in shares of Elevance Health in the 3rd quarter valued at $532,000. Erste Asset Management GmbH acquired a new stake in Elevance Health during the 3rd quarter worth $978,000. Paloma Partners Management Co lifted its position in Elevance Health by 223.4% in the third quarter. Paloma Partners Management Co now owns 2,264 shares of the company’s stock valued at $1,177,000 after acquiring an additional 1,564 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in Elevance Health by 2,489.1% in the third quarter. Hilltop Holdings Inc. now owns 11,910 shares of the company’s stock valued at $6,193,000 after acquiring an additional 11,450 shares in the last quarter. Finally, HighVista Strategies LLC purchased a new position in shares of Elevance Health during the third quarter worth about $1,300,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $433.02 on Wednesday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a 50-day moving average price of $406.34 and a 200 day moving average price of $418.81. The company has a market cap of $98.45 billion, a P/E ratio of 16.91, a PEG ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research 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 was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a dividend of $1.71 per share. The ex-dividend date was 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 1.58%. Elevance Health’s dividend payout ratio is 26.71%.

Analysts Set New Price Targets

ELV has been the subject of several research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial cut their target price 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. Finally, Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% 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.