Elevance Health, Inc. (NYSE:ELV) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 26.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,400 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Intact Investment Management Inc.’s holdings in Elevance Health were worth $1,132,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sanders Capital LLC raised its holdings 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 valued at $1,855,750,000 after acquiring an additional 58,013 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Elevance Health by 0.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after acquiring an additional 27,986 shares during the last quarter. Morgan Stanley raised its holdings in shares of Elevance Health by 1.7% during the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after acquiring an additional 46,322 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Elevance Health by 2.4% during the third 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 holdings in shares of Elevance Health by 7.2% during the third 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 during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.4 %

NYSE:ELV traded down $2.42 during midday trading on Friday, reaching $537.26. The company had a trading volume of 700,726 shares, compared to its average volume of 1,135,198. The firm has a market capitalization of $124.87 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78. The stock’s fifty day simple moving average is $511.89 and its 200-day simple moving average is $486.62. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $9.46 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Buying and Selling at Elevance Health

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 value of $376,500.00. Following the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $376,500.00. Following the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction 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 owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on ELV. Barclays increased their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. UBS Group increased their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Finally, StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $587.42.

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.