Elevance Health, Inc. (NYSE:ELV) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 39.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,517 shares of the company’s stock after selling 9,984 shares during the period. UniSuper Management Pty Ltd’s holdings in Elevance Health were worth $5,724,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raelipskie Partnership acquired a new position in shares of Elevance Health in the 3rd quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health during the fourth quarter valued at about $26,000. Dunhill Financial LLC lifted its stake in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $431.81 on Friday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock’s 50-day moving average is $403.50 and its two-hundred day moving average is $422.91. The firm has a market cap of $98.17 billion, a P/E ratio of 16.86, a price-to-earnings-growth 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.

Elevance Health (NYSE:ELV) last issued 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%. On average, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a $1.71 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ELV shares. Truist Financial lowered their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Monday, March 17th. Barclays increased 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. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 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.