Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Natixis

Natixis lifted its position in Elevance Health, Inc. (NYSE:ELV) by 69.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,705 shares of the company’s stock after acquiring an additional 54,931 shares during the quarter. Natixis’ holdings in Elevance Health were worth $49,324,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new position in Elevance Health in the third quarter worth $2,828,000. Te Ahumairangi Investment Management Ltd lifted its position in shares of Elevance Health by 39.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company’s stock worth $5,433,000 after buying an additional 2,983 shares during the last quarter. Tudor Financial Inc. acquired a new position in shares of Elevance Health in the 3rd quarter valued at about $235,000. Anchor Investment Management LLC grew its position in shares of Elevance Health by 22.9% during the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company’s stock valued at $3,171,000 after buying an additional 1,135 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in Elevance Health during the third quarter worth about $8,855,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $424.44 on Friday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a market cap of $96.09 billion, a P/E ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77. The stock has a fifty day moving average price of $416.77 and a two-hundred day moving average price of $411.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s payout ratio is presently 26.71%.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent research reports. Mizuho upped their target price on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Truist Financial boosted their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $514.41.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.