Alpine Woods Capital Investors LLC Raises Holdings in Elevance Health, Inc. (NYSE:ELV)

Alpine Woods Capital Investors LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,832 shares of the company’s stock after purchasing an additional 750 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Elevance Health were worth $2,151,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ELV. Versor Investments LP purchased a new position in shares of Elevance Health in the 3rd quarter valued at about $455,000. GSA Capital Partners LLP purchased a new position in shares of Elevance Health in the 3rd quarter valued at about $518,000. First National Trust Co increased its holdings in shares of Elevance Health by 13.6% in the 3rd quarter. First National Trust Co now owns 837 shares of the company’s stock valued at $435,000 after acquiring an additional 100 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Elevance Health by 4.6% in the 3rd quarter. Victory Capital Management Inc. now owns 203,042 shares of the company’s stock valued at $105,582,000 after purchasing an additional 8,851 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its position in shares of Elevance Health by 1.6% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 2,945 shares of the company’s stock valued at $1,531,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research analyst reports. Argus reissued a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the company 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 for the company in a research report on Tuesday, January 28th. Finally, StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Up 1.6 %

ELV opened at $417.77 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a 50 day simple moving average of $394.44 and a 200-day simple moving average of $431.33. The stock has a market capitalization of $94.98 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

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.