NEOS Investment Management LLC Has $4.13 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

NEOS Investment Management LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 28.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,183 shares of the company’s stock after buying an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in Elevance Health were worth $4,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health during the 4th quarter worth about $26,000. Dunhill Financial LLC raised its holdings in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the period. Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the 4th quarter valued at about $30,000. Finally, OFI Invest Asset Management bought a new position in Elevance Health during the fourth quarter worth about $29,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $431.81 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a market cap of $98.17 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The stock has a fifty day moving average price of $403.50 and a 200-day moving average price of $422.91.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

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

Insiders Place Their Bets

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated 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 owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial dropped their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a report on Monday, March 17th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. 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. According to data from MarketBeat.com, the stock presently has a consensus 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.