Sterling Capital Management LLC Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Sterling Capital Management LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 316,789 shares of the company’s stock after buying an additional 17,813 shares during the quarter. Elevance Health comprises approximately 1.6% of Sterling Capital Management LLC’s portfolio, making the stock its 12th largest position. Sterling Capital Management LLC owned about 0.14% of Elevance Health worth $116,864,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Elevance Health in the fourth quarter valued at approximately $1,135,014,000. Wellington Management Group LLP grew its stake in shares of Elevance Health by 42.5% in the fourth 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 in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after buying an additional 1,039,612 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after acquiring an additional 895,658 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Elevance Health by 17.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company’s stock worth $1,060,901,000 after acquiring an additional 437,103 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

NYSE ELV opened at $436.08 on Friday. The company has a fifty day moving average of $412.18 and a two-hundred day moving average of $413.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. 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 $98.72 billion, a PE ratio of 17.03, a P/E/G ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last released 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 net margin of 3.38% and a return on equity of 18.28%. As a group, analysts expect 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. Investors of record on Monday, March 10th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.57%. The ex-dividend date was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 26.71%.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. Truist Financial cut 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. Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Mizuho boosted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim began coverage on Elevance Health in a research report on Wednesday. They set a “buy” rating and a $518.00 price objective on the stock. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $519.71.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

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.