Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 42.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,355,532 shares of the company’s stock after purchasing an additional 1,893,947 shares during the quarter. Wellington Management Group LLP owned 2.80% of Elevance Health worth $2,344,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $29,000. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Elevance Health during the fourth quarter worth $30,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.0 %

ELV stock opened at $431.84 on Monday. 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 company has a market cap of $98.18 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The business has a fifty day simple moving average of $404.45 and a 200-day simple moving average of $420.42. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates 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 research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.58%. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Analysts Set New Price Targets

ELV has been the topic of several research analyst reports. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. 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 report on Monday, January 6th. Argus raised shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Finally, Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction 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. The trade was a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’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 in the company, valued at approximately $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.

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.