Elevance Health, Inc. (NYSE:ELV) Shares Bought by Westpac Banking Corp

Westpac Banking Corp lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 18.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,396 shares of the company’s stock after acquiring an additional 532 shares during the quarter. Westpac Banking Corp’s holdings in Elevance Health were worth $1,601,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quotient Wealth Partners LLC purchased a new position in shares of Elevance Health during the 4th quarter valued at approximately $253,000. Advisor OS LLC acquired a new position in Elevance Health during the 4th quarter worth $260,000. Pacific Global Investment Management Co. increased its position in shares of Elevance Health by 2.2% in the 4th quarter. Pacific Global Investment Management Co. now owns 2,011 shares of the company’s stock worth $948,000 after purchasing an additional 44 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $467,141,000. Finally, Avantax Advisory Services Inc. lifted its position in shares of Elevance Health by 15.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,562 shares of the company’s stock worth $2,623,000 after purchasing an additional 742 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ELV shares. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company boosted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Mizuho lifted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Truist Financial reiterated a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Finally, Jefferies Financial Group upped their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $587.42.

View Our Latest Stock Report on Elevance Health

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

ELV stock traded up $5.34 during trading on Wednesday, hitting $539.97. The company had a trading volume of 244,444 shares, compared to its average volume of 1,022,513. The business has a 50 day moving average of $518.12 and a 200 day moving average of $493.35. The firm has a market capitalization of $125.50 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 1.19 and a beta of 0.79. 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, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $543.13.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the prior year, the business posted $9.46 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders 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 dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

About Elevance Health

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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