Geode Capital Management LLC Has $1.83 Billion Holdings in Elevance Health, Inc. (NYSE:ELV)

Geode Capital Management LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,963,991 shares of the company’s stock after acquiring an additional 115,971 shares during the quarter. Geode Capital Management LLC’s holdings in Elevance Health were worth $1,826,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ELV. Raelipskie Partnership bought a new position in Elevance Health in the 3rd quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the fourth quarter valued at $26,000. Dunhill Financial LLC lifted its holdings in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health in the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the fourth quarter valued at $30,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.4 %

ELV opened at $433.02 on Wednesday. The company has a market cap of $98.45 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The company has a fifty day moving average price of $406.34 and a two-hundred day moving average price of $418.81. 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 issued its earnings results on Thursday, January 23rd. The company reported $3.84 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%. Analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal 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 given a $1.71 dividend. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a 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 presently 26.71%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Stephens downgraded 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 report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research report on Friday. Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. 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 research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred 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 transaction, the chief accounting officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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.