Natixis Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Natixis increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 69.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 133,705 shares of the company’s stock after buying an additional 54,931 shares during the quarter. Natixis owned about 0.06% of Elevance Health worth $49,324,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ELV. Virtu Financial LLC purchased a new stake in shares of Elevance Health in the 3rd quarter valued at $2,828,000. Te Ahumairangi Investment Management Ltd raised its position in Elevance Health by 39.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company’s stock valued at $5,433,000 after purchasing an additional 2,983 shares in the last quarter. Tudor Financial Inc. purchased a new position in shares of Elevance Health in the 3rd quarter valued at about $235,000. Anchor Investment Management LLC grew its position in shares of Elevance Health by 22.9% during the third quarter. Anchor Investment Management LLC now owns 6,098 shares of the company’s stock worth $3,171,000 after buying an additional 1,135 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter worth approximately $8,855,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Guggenheim began coverage on shares of Elevance Health in a research note on Wednesday, April 9th. They issued a “buy” rating and a $518.00 price objective for the company. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Robert W. Baird reissued a “neutral” rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday. Finally, Mizuho lifted their price target on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $514.41.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were 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 $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Trading Down 2.4 %

NYSE:ELV opened at $424.44 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock has a fifty day moving average price of $416.77 and a two-hundred day moving average price of $411.07. The stock has a market capitalization of $96.09 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.61%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

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.