Geode Capital Management LLC Has $1.83 Billion Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Geode Capital Management LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,963,991 shares of the company’s stock after buying an additional 115,971 shares during the period. Geode Capital Management LLC owned approximately 2.14% of Elevance Health worth $1,826,447,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth approximately $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new stake in Elevance Health in the 4th quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the 4th quarter worth $29,000. Finally, Lee Danner & Bass Inc. bought a new position in Elevance Health during the 4th quarter worth about $30,000. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction 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 $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Down 0.4 %

ELV opened at $433.02 on Wednesday. The stock’s fifty day simple moving average is $406.34 and its 200 day simple moving average is $418.81. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market cap of $98.45 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

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

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders 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 dividend yield of 1.58%. Elevance Health’s dividend payout ratio is presently 26.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ELV shares. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Truist Financial reduced their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Wells Fargo & Company reduced their target price 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, Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research note on Friday. Two investment 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $519.81.

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.