Elevance Health, Inc. (NYSE:ELV) Shares Acquired by High Ground Investment Management LLP

High Ground Investment Management LLP boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 205.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 209,010 shares of the company’s stock after buying an additional 140,640 shares during the period. Elevance Health accounts for approximately 23.9% of High Ground Investment Management LLP’s holdings, making the stock its 3rd largest position. High Ground Investment Management LLP’s holdings in Elevance Health were worth $77,104,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC increased its holdings in shares of Elevance Health by 3.8% during the third quarter. Fisher Asset Management LLC now owns 838 shares of the company’s stock worth $436,000 after buying an additional 31 shares in the last quarter. Townsquare Capital LLC increased its holdings in Elevance Health by 6.3% during the 3rd quarter. Townsquare Capital LLC now owns 8,727 shares of the company’s stock valued at $4,538,000 after purchasing an additional 517 shares in the last quarter. Cynosure Group LLC raised its position in Elevance Health by 6.8% in the 3rd quarter. Cynosure Group LLC now owns 767 shares of the company’s stock valued at $399,000 after purchasing an additional 49 shares during the last quarter. 140 Summer Partners LP boosted its stake in Elevance Health by 54.3% in the third quarter. 140 Summer Partners LP now owns 133,059 shares of the company’s stock worth $69,191,000 after purchasing an additional 46,800 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Elevance Health by 3.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 265,927 shares of the company’s stock worth $138,282,000 after purchasing an additional 8,691 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.3 %

NYSE:ELV opened at $431.81 on Friday. 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, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm has a market capitalization of $98.17 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The business’s 50-day moving average price is $403.50 and its two-hundred day moving average price is $422.91.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts expect 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 issued a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. Elevance Health’s payout ratio is 26.71%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on 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. The trade was a 25.73 % decrease in their position. The sale was disclosed in a document filed 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 that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, 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. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on ELV. Barclays lifted their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Monday, March 17th. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

About Elevance Health

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.