Gotham Asset Management LLC Boosts Stake in Elevance Health, Inc. (NYSE:ELV)

Gotham Asset Management LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 101.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,686 shares of the company’s stock after purchasing an additional 27,033 shares during the quarter. Gotham Asset Management LLC’s holdings in Elevance Health were worth $19,805,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. Tobam grew its stake in shares of Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after buying an additional 27 shares in the last quarter. Jacobi Capital Management LLC boosted its holdings in Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after acquiring an additional 27 shares during the period. Austin Private Wealth LLC boosted its holdings in Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after acquiring an additional 29 shares during the period. Quent Capital LLC grew its position in Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after acquiring an additional 30 shares in the last quarter. Finally, RDA Financial Network raised its stake in shares of Elevance Health by 0.5% during the fourth quarter. RDA Financial Network now owns 6,384 shares of the company’s stock valued at $2,355,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, 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 sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Kaye sold 4,588 shares of the company’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 owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

ELV opened at $404.52 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $424.13 and its 200 day moving average price is $404.58. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market cap of $91.40 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.69%. Elevance Health’s dividend payout ratio is presently 26.69%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ELV shares. Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Argus set a $465.00 target price on Elevance Health in a research note on Friday, April 25th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.