Blueshift Asset Management LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

Blueshift Asset Management LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,090 shares of the company’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Royal London Asset Management Ltd. increased its holdings in shares of Elevance Health by 0.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 231,309 shares of the company’s stock valued at $85,330,000 after purchasing an additional 2,049 shares during the last quarter. Generali Investments Management Co LLC acquired a new stake in Elevance Health during the fourth quarter worth $665,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Elevance Health during the fourth quarter worth $259,000. Brooklyn FI LLC purchased a new position in shares of Elevance Health during the fourth quarter worth $519,000. Finally, Xponance Inc. boosted its position in shares of Elevance Health by 2.0% during the fourth quarter. Xponance Inc. now owns 42,945 shares of the company’s stock worth $15,842,000 after buying an additional 839 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several research analyst reports. Argus upgraded 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. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Stock Performance

ELV opened at $434.44 on Friday. The stock has a market cap of $98.77 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock’s 50 day simple moving average is $399.60 and its 200 day simple moving average is $427.17. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS 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%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced 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 1.57%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 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.