UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Elevance Health, Inc. (NYSE:ELV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Elevance Health, Inc. (NYSE:ELV) by 9.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,352,163 shares of the company’s stock after buying an additional 199,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Elevance Health were worth $867,713,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Mutual Advisors LLC lifted its position in Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after buying an additional 52 shares during the period. JB Capital LLC lifted its stake in shares of Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after purchasing an additional 8,038 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in Elevance Health by 82.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock worth $276,073,000 after purchasing an additional 326,543 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its position in Elevance Health by 15.8% during the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company’s stock valued at $11,837,000 after buying an additional 4,372 shares in the last quarter. Finally, VELA Investment Management LLC increased its holdings in Elevance Health by 101.6% in the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock valued at $765,000 after purchasing an additional 1,045 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly 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. Insiders sold 8,535 shares of company stock worth $3,521,612 over the last quarter. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. 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 report on Tuesday, January 28th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $510.38.

Elevance Health Stock Performance

NYSE ELV opened at $403.38 on Tuesday. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. 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 firm has a market capitalization of $91.14 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.18 and a beta of 0.66. The company’s fifty day moving average is $422.29 and its two-hundred day moving average is $403.57.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

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.