Dean Investment Associates LLC Reduces Stake in Elevance Health, Inc. (NYSE:ELV)

Dean Investment Associates LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 594 shares of the company’s stock after selling 67 shares during the quarter. Dean Investment Associates LLC’s holdings in Elevance Health were worth $219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Tobam raised its position in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after buying an additional 27 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after purchasing an additional 27 shares during the period. Austin Private Wealth LLC raised 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 valued at $736,000 after buying an additional 29 shares during the period. Quent Capital LLC lifted 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 buying an additional 30 shares during the last quarter. Finally, RDA Financial Network increased its position 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 acquiring an additional 32 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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. Insiders own 0.29% of the company’s stock.

Elevance Health Trading Down 2.4 %

NYSE ELV opened at $424.44 on Friday. The firm’s fifty day moving average price is $416.77 and its 200 day moving average price is $411.07. Elevance Health, Inc. has a 12 month low of $362.21 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 company has a market capitalization of $96.09 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed 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 an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ELV. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a report on Monday, March 17th. Wells Fargo & Company cut 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. Truist Financial upped their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $514.41.

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.