UniSuper Management Pty Ltd Sells 9,984 Shares of Elevance Health, Inc. (NYSE:ELV)

UniSuper Management Pty Ltd cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 39.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,517 shares of the company’s stock after selling 9,984 shares during the period. UniSuper Management Pty Ltd’s holdings in Elevance Health were worth $5,724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ELV. Dunhill Financial LLC increased its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the period. Tobam increased its stake in Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after acquiring an additional 27 shares during the period. Jacobi Capital Management LLC raised its position in Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after purchasing an additional 27 shares in the last quarter. Austin Private Wealth LLC lifted its stake in Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after purchasing an additional 29 shares during the period. Finally, Quent Capital LLC boosted its holdings in Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Elevance Health stock opened at $431.81 on Friday. The business’s 50-day simple moving average is $403.50 and its 200 day simple moving average is $422.91. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a market cap of $98.17 billion, a price-to-earnings ratio of 16.86, 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 released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent research reports. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a report on Monday, March 17th. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $519.81.

Insider Buying and Selling at Elevance Health

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

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.