Linden Thomas Advisory Services LLC Grows Position in Elevance Health, Inc. (NYSE:ELV)

Linden Thomas Advisory Services LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,542 shares of the company’s stock after purchasing an additional 106 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Elevance Health were worth $727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. International Assets Investment Management LLC raised its holdings in shares of Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after buying an additional 255,138 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after purchasing an additional 249,533 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock valued at $279,063,000 after purchasing an additional 234,439 shares during the period. Schroder Investment Management Group grew its holdings in shares of Elevance Health by 18.2% in the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock worth $579,493,000 after purchasing an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Elevance Health by 59.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock valued at $214,011,000 after buying an additional 182,889 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $7,531,605.14. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 1.1 %

Shares of Elevance Health stock opened at $539.70 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $125.44 billion, a P/E ratio of 20.40, a PEG ratio of 1.18 and a beta of 0.78. The firm’s 50 day moving average price is $511.40 and its 200-day moving average price is $485.81. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same period in the previous year, the company earned $9.46 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Mizuho upped their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company upped their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has a consensus 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.