Corebridge Financial Inc. Has $22.67 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Corebridge Financial Inc. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,448 shares of the company’s stock after selling 2,544 shares during the period. Corebridge Financial Inc.’s holdings in Elevance Health were worth $22,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership acquired a new position in Elevance Health during the 3rd quarter worth approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health in the 4th quarter worth $29,000. Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the 4th quarter valued at $30,000. Finally, Crews Bank & Trust bought a new stake in Elevance Health during the 4th quarter valued at $34,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.1 %

ELV opened at $427.62 on Tuesday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company’s 50-day moving average price is $401.13 and its two-hundred day moving average price is $423.64. The stock has a market cap of $97.22 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is currently 26.71%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company’s stock, 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 through this link. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction 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 owns 1,847 shares of the company’s stock, valued at approximately $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. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Monday, March 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Finally, Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $519.81.

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.