Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Paralel Advisors LLC

Paralel Advisors LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,843 shares of the company’s stock after purchasing an additional 440 shares during the period. Paralel Advisors LLC’s holdings in Elevance Health were worth $1,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ELV. Norges Bank bought a new position in shares of Elevance Health during the fourth quarter worth about $1,135,014,000. Wellington Management Group LLP lifted its holdings in Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after acquiring an additional 1,039,612 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after acquiring an additional 895,658 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Elevance Health by 17.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company’s stock worth $1,060,901,000 after acquiring an additional 437,103 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the business’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 transaction 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 $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % 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 insiders.

Elevance Health Price Performance

NYSE:ELV traded up $5.95 on Thursday, reaching $441.63. The stock had a trading volume of 64,895 shares, compared to its average volume of 1,431,781. The company has a market capitalization of $99.98 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. 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 stock has a fifty day moving average price of $411.57 and a 200-day moving average price of $414.52.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. Mizuho raised their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays raised their price target 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. Wells Fargo & Company dropped 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. Guggenheim began coverage on shares of Elevance Health in a research note on Wednesday. They set a “buy” rating and a $518.00 price objective on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $519.71.

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.