Elevance Health, Inc. (NYSE:ELV) is Orion Portfolio Solutions LLC’s 2nd Largest Position

Orion Portfolio Solutions LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 6,817.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,795 shares of the company’s stock after acquiring an additional 895,658 shares during the quarter. Elevance Health makes up 3.3% of Orion Portfolio Solutions LLC’s investment portfolio, making the stock its 2nd largest position. Orion Portfolio Solutions LLC’s holdings in Elevance Health were worth $335,254,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ELV. Raelipskie Partnership acquired a new stake in Elevance Health in the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. bought a new position in Elevance Health during the 4th quarter worth $30,000. Finally, Crews Bank & Trust acquired a new stake in shares of Elevance Health in the 4th quarter worth about $34,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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. This represents a 25.73 % 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

A number of research analysts recently commented on ELV shares. Barclays raised their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Wells Fargo & Company lowered their target price on 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 reduced their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Argus raised 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 note on Monday, March 17th. Two 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Price Performance

Shares of NYSE ELV opened at $431.81 on Friday. The firm has a market cap of $98.17 billion, a PE ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The company has a fifty day moving average price of $403.50 and a 200 day moving average price of $422.91. 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.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

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.