Andra AP fonden Buys 10,100 Shares of Elevance Health, Inc. (NYSE:ELV)

Andra AP fonden raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 18.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 66,000 shares of the company’s stock after purchasing an additional 10,100 shares during the period. Andra AP fonden’s holdings in Elevance Health were worth $24,347,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Edgestream Partners L.P. boosted its stake in shares of Elevance Health by 2,265.0% in the fourth quarter. Edgestream Partners L.P. now owns 24,194 shares of the company’s stock worth $8,925,000 after acquiring an additional 23,171 shares during the period. Callan Family Office LLC bought a new position in shares of Elevance Health in the fourth quarter worth about $911,000. E Fund Management Co. Ltd. boosted its stake in shares of Elevance Health by 114.3% in the fourth quarter. E Fund Management Co. Ltd. now owns 1,425 shares of the company’s stock worth $526,000 after acquiring an additional 760 shares during the period. Inceptionr LLC boosted its stake in shares of Elevance Health by 193.7% in the fourth quarter. Inceptionr LLC now owns 3,885 shares of the company’s stock worth $1,433,000 after acquiring an additional 2,562 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Elevance Health in the fourth quarter worth about $88,882,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.6 %

Shares of NYSE ELV opened at $403.83 on Friday. 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 $91.81 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.18 and a beta of 0.83. The business’s 50 day moving average price is $389.86 and its 200-day moving average price is $435.81. 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 (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 the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.69%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

Analyst Ratings Changes

ELV has been the topic of a number of research analyst reports. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by insiders.

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.