Victory Capital Management Inc. Boosts Stock Position in Elevance Health, Inc. (NYSE:ELV)

Victory Capital Management Inc. increased its stake in Elevance Health, Inc. (NYSE:ELV) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,406 shares of the company’s stock after buying an additional 12,268 shares during the period. Victory Capital Management Inc. owned about 0.08% of Elevance Health worth $88,373,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ELV. Sanders Capital LLC lifted its position in shares of Elevance Health by 1.4% during the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after purchasing an additional 58,013 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Elevance Health by 0.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after buying an additional 27,986 shares during the last quarter. Morgan Stanley grew its position in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after acquiring an additional 46,322 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Elevance Health by 2.4% in the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock valued at $1,052,175,000 after acquiring an additional 57,098 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of Elevance Health by 7.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock valued at $1,035,884,000 after acquiring an additional 160,524 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.3 %

NYSE ELV opened at $527.01 on Friday. The company has a market capitalization of $122.49 billion, a P/E ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company’s 50 day simple moving average is $513.28 and its 200 day simple moving average is $488.46.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.46 EPS. Equities research analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on ELV. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Royal Bank of Canada increased their price target on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. UBS Group increased their target price on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Company 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.