iA Global Asset Management Inc. Sells 8,646 Shares of Elevance Health, Inc. (NYSE:ELV)

iA Global Asset Management Inc. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,985 shares of the company’s stock after selling 8,646 shares during the period. iA Global Asset Management Inc.’s holdings in Elevance Health were worth $23,973,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Royal London Asset Management Ltd. raised its holdings in Elevance Health by 0.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 231,309 shares of the company’s stock valued at $85,330,000 after buying an additional 2,049 shares in the last quarter. Generali Investments Management Co LLC bought a new position in Elevance Health during the fourth quarter valued at about $665,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Elevance Health during the fourth quarter valued at about $259,000. Brooklyn FI LLC bought a new position in Elevance Health during the fourth quarter valued at about $519,000. Finally, Xponance Inc. raised its holdings in Elevance Health by 2.0% during the fourth quarter. Xponance Inc. now owns 42,945 shares of the company’s stock valued at $15,842,000 after buying an additional 839 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ELV shares. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company dropped their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Truist Financial dropped their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Stock Down 1.2 %

NYSE ELV opened at $430.87 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $398.56 and its two-hundred day moving average is $427.12. The company has a market capitalization of $97.96 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.59%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is presently 26.71%.

Insider Buying and Selling at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the business’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 transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.