Elevance Health, Inc. (NYSE:ELV) Shares Sold by CDAM UK Ltd

CDAM UK Ltd lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 49.0% during the fourth quarter, HoldingsChannel reports. The firm owned 67,141 shares of the company’s stock after selling 64,500 shares during the quarter. Elevance Health comprises 3.7% of CDAM UK Ltd’s holdings, making the stock its 10th largest holding. CDAM UK Ltd’s holdings in Elevance Health were worth $24,768,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. acquired a new position in shares of Elevance Health in the third quarter valued at approximately $532,000. Integrated Wealth Concepts LLC boosted its stake in Elevance Health by 3.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,756 shares of the company’s stock worth $1,953,000 after purchasing an additional 114 shares during the period. IHT Wealth Management LLC increased its holdings in Elevance Health by 9.8% during the 3rd quarter. IHT Wealth Management LLC now owns 1,506 shares of the company’s stock worth $780,000 after purchasing an additional 135 shares in the last quarter. Quarry LP raised its stake in shares of Elevance Health by 275.4% in the 3rd quarter. Quarry LP now owns 503 shares of the company’s stock valued at $262,000 after purchasing an additional 369 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of Elevance Health by 26.1% in the third quarter. Quantinno Capital Management LP now owns 11,889 shares of the company’s stock valued at $6,182,000 after purchasing an additional 2,461 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial lowered their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Buying and Selling at Elevance Health

In other news, 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 transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 5.3 %

Shares of Elevance Health stock opened at $428.62 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a fifty day simple moving average of $408.70 and a two-hundred day simple moving average of $418.26. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a market capitalization of $97.03 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is presently 26.71%.

About Elevance Health

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.