Pilgrim Partners Asia Pte Ltd Purchases Shares of 120 Elevance Health, Inc. (NYSE:ELV)

Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 120 shares of the company’s stock, valued at approximately $44,000.

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

Analyst Ratings Changes

A number of brokerages have commented on ELV. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Argus raised 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, March 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. 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 report on Monday, January 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 5.3 %

Elevance Health stock opened at $428.62 on Friday. The firm has a market capitalization of $97.03 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.18 and a beta of 0.77. The firm has a 50 day simple moving average of $408.70 and a 200 day simple moving average of $418.26. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. 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 (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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 predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a dividend of $1.71 per share. 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 dividend yield of 1.60%. The ex-dividend date was Monday, March 10th. Elevance Health’s 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.