Elevance Health, Inc. (NYSE:ELV) Stock Holdings Decreased by AIA Group Ltd

AIA Group Ltd lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 75.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,260 shares of the company’s stock after selling 3,944 shares during the quarter. AIA Group Ltd’s holdings in Elevance Health were worth $465,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ELV. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the third quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the 4th quarter worth about $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health during the 4th quarter worth about $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Truist Financial cut their price target 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. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. 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 Elevance Health stock in a transaction dated 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 sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % 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.

Elevance Health Trading Up 0.8 %

Shares of Elevance Health stock opened at $435.48 on Tuesday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market capitalization of $99.01 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The company has a 50-day simple moving average of $405.47 and a 200 day simple moving average of $419.64. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

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

Elevance Health Increases Dividend

The business 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 represents a $6.84 annualized dividend and a yield of 1.57%. The ex-dividend date was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Elevance Health Company 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.