Elevance Health, Inc. (NYSE:ELV) Stock Holdings Raised by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC increased its position in Elevance Health, Inc. (NYSE:ELV) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 153,178 shares of the company’s stock after purchasing an additional 10,654 shares during the period. Elevance Health accounts for 4.1% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 5th biggest position. Cornerstone Investment Partners LLC owned approximately 0.07% of Elevance Health worth $72,233,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Elevance Health in the fourth quarter valued at about $1,253,211,000. Legal & General Group Plc bought a new position in Elevance Health in the fourth quarter valued at about $944,528,000. Moneta Group Investment Advisors LLC bought a new position in Elevance Health in the fourth quarter valued at about $664,077,000. Arrowstreet Capital Limited Partnership lifted its holdings in Elevance Health by 825.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock valued at $372,715,000 after acquiring an additional 676,769 shares during the period. Finally, Barclays PLC lifted its holdings in Elevance Health by 52.9% in the second quarter. Barclays PLC now owns 1,263,401 shares of the company’s stock valued at $561,318,000 after acquiring an additional 437,225 shares during the period. 89.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was 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 in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by company insiders.

Elevance Health Trading Up 1.7 %

Shares of NYSE:ELV traded up $9.14 during trading on Friday, hitting $534.33. The company had a trading volume of 635,742 shares, compared to its average volume of 1,047,744. The stock has a market cap of $124.34 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $539.11. The company has a fifty day simple moving average of $508.63 and a two-hundred day simple moving average of $482.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period last year, the company earned $9.46 EPS. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts forecast that Elevance Health, Inc. will post 37.03 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $1.63 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Analyst Ratings Changes

A number of research analysts have weighed in on ELV shares. Barclays increased their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, 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. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $583.69.

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.