Elevance Health, Inc. (NYSE:ELV) Shares Acquired by First Manhattan CO. LLC.

First Manhattan CO. LLC. increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 293.3% during the fourth quarter, Holdings Channel reports. The fund owned 4,712 shares of the company’s stock after acquiring an additional 3,514 shares during the quarter. First Manhattan CO. LLC.’s holdings in Elevance Health were worth $1,738,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Elevance Health in the 4th quarter worth about $1,135,014,000. Wellington Management Group LLP grew its holdings in Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. First Eagle Investment Management LLC increased its position in Elevance Health by 47.6% during the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in Elevance Health by 6,817.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after purchasing an additional 895,658 shares during the period. Finally, D1 Capital Partners L.P. acquired a new position in shares of Elevance Health in the 4th quarter valued at $294,751,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 1.9 %

Shares of ELV opened at $404.52 on Friday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The stock has a 50-day moving average price of $424.13 and a 200 day moving average price of $404.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market capitalization of $91.40 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate 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 return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders 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 yield of 1.69%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio is currently 26.69%.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s 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 transaction, the chief accounting officer now 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. In the last 90 days, insiders sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $510.38.

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.