Capital International Investors Purchases 35,576 Shares of Elevance Health, Inc. (NYSE:ELV)

Capital International Investors boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,880,630 shares of the company’s stock after buying an additional 35,576 shares during the period. Capital International Investors owned about 1.67% of Elevance Health worth $1,431,559,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC increased its stake in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after acquiring an additional 52 shares during the period. Czech National Bank grew its stake in shares of Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after purchasing an additional 3,049 shares during the period. Diversified Trust Co raised its holdings in shares of Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after buying an additional 2,725 shares in the last quarter. JB Capital LLC lifted its position in shares of Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after buying an additional 8,038 shares during the period. Finally, Tidal Investments LLC boosted its stake in Elevance Health by 60.6% in the 3rd quarter. Tidal Investments LLC now owns 10,485 shares of the company’s stock valued at $5,452,000 after buying an additional 3,956 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Robert W. Baird restated a “neutral” rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research report on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Baird R W downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Guggenheim began coverage on Elevance Health in a report on Wednesday, April 9th. They set a “buy” rating and a $518.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $514.41.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $424.44 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market capitalization of $96.09 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.18 and a beta of 0.77. The business has a 50-day moving average price of $416.11 and a two-hundred day moving average price of $411.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities 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 given 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 dividend yield of 1.61%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Elevance Health 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.