Elevance Health, Inc. (NYSE:ELV) is Stanley Capital Management LLC’s 5th Largest Position

Stanley Capital Management LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 49.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 63,119 shares of the company’s stock after purchasing an additional 21,019 shares during the period. Elevance Health makes up approximately 4.5% of Stanley Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Stanley Capital Management LLC’s holdings in Elevance Health were worth $23,285,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Mutual Advisors LLC boosted its position in Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after buying an additional 52 shares during the period. JB Capital LLC boosted its position in 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 buying an additional 8,038 shares during the period. CIBC Private Wealth Group LLC boosted its position in Elevance Health by 82.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock valued at $276,073,000 after buying an additional 326,543 shares during the period. Lawson Kroeker Investment Management Inc. NE boosted its position in Elevance Health by 15.8% in the 4th 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 during the period. Finally, VELA Investment Management LLC boosted its position 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 buying an additional 1,045 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ELV shares. Mizuho raised their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Robert W. Baird reissued a “neutral” rating and issued a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $510.38.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’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 transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated 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 owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,535 shares of company stock worth $3,521,612. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $403.20 on Friday. The company’s fifty day moving average price is $422.47 and its 200 day moving average price is $403.66. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month 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 $91.10 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

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.