Seeds Investor LLC Sells 842 Shares of Elevance Health, Inc. (NYSE:ELV)

Seeds Investor LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 42.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,130 shares of the company’s stock after selling 842 shares during the quarter. Seeds Investor LLC’s holdings in Elevance Health were worth $417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock worth $7,926,028,000 after purchasing an additional 138,380 shares in the last quarter. Wellington Management Group LLP raised its position in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after buying an additional 1,893,947 shares during the last quarter. Geode Capital Management LLC lifted its stake in Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock valued at $1,826,447,000 after acquiring an additional 115,971 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after acquiring an additional 1,039,612 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $1,135,014,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Truist Financial increased their price objective on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $521.47.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $439.80 on Friday. The company has a 50-day simple moving average of $412.93 and a two-hundred day simple moving average of $413.32. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market capitalization of $99.56 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. 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 issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. 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 is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.56%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % 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.

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.