Elevance Health, Inc. (NYSE:ELV) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,226 shares of the company’s stock after selling 782 shares during the quarter. Pacer Advisors Inc.’s holdings in Elevance Health were worth $7,180,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bison Wealth LLC grew its holdings in Elevance Health by 7.0% during the second quarter. Bison Wealth LLC now owns 6,250 shares of the company’s stock worth $2,777,000 after acquiring an additional 410 shares during the period. Catalyst Financial Partners LLC grew its stake in shares of Elevance Health by 12.4% during the 3rd quarter. Catalyst Financial Partners LLC now owns 662 shares of the company’s stock worth $288,000 after purchasing an additional 73 shares during the period. Nordea Investment Management AB increased its holdings in shares of Elevance Health by 0.5% during the 4th quarter. Nordea Investment Management AB now owns 1,632,123 shares of the company’s stock valued at $768,387,000 after purchasing an additional 8,314 shares in the last quarter. Prana Capital Management LP acquired a new position in shares of Elevance Health in the 2nd quarter valued at $21,305,000. Finally, SG Americas Securities LLC raised its position in shares of Elevance Health by 33.1% in the fourth quarter. SG Americas Securities LLC now owns 8,935 shares of the company’s stock worth $4,213,000 after acquiring an additional 2,220 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Performance

Shares of ELV opened at $519.90 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average price of $500.26 and a 200 day moving average price of $475.45. The company has a market capitalization of $120.98 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $521.18.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. Elevance Health’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.23 EPS. Research analysts predict that Elevance Health, Inc. will post 37.15 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, March 7th. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s payout ratio is 25.90%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Royal Bank of Canada raised their target price on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Barclays started coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price target on the stock. Finally, Cantor Fitzgerald upped their price objective on shares of Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $569.36.

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.