Capital International Investors Acquires 35,576 Shares of Elevance Health, Inc. (NYSE:ELV)

Capital International Investors lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,880,630 shares of the company’s stock after buying an additional 35,576 shares during the quarter. Capital International Investors’ holdings in Elevance Health were worth $1,431,559,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Elevance Health during the third quarter worth $2,828,000. Te Ahumairangi Investment Management Ltd boosted its stake in 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 purchasing an additional 2,983 shares during the period. Tudor Financial Inc. bought a new position in Elevance Health during the 3rd quarter worth about $235,000. Anchor Investment Management LLC raised its stake in shares of Elevance Health by 22.9% in the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company’s stock valued at $3,171,000 after purchasing an additional 1,135 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Elevance Health in the third quarter valued at about $8,855,000. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial boosted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $514.41.

Elevance Health Stock Performance

ELV opened at $424.44 on Friday. 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, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business has a 50 day moving average of $416.11 and a 200-day moving average of $411.67. The stock has a market cap of $96.09 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77.

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

Elevance Health Increases Dividend

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