Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 105.1% in the fourth quarter, HoldingsChannel reports. The firm owned 172,810 shares of the company’s stock after buying an additional 88,546 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Elevance Health were worth $81,490,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Alliance Wealth Advisors LLC grew its position in shares of Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after buying an additional 21 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Elevance Health by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after purchasing an additional 22 shares in the last quarter. Financial Counselors Inc. raised its holdings in shares of Elevance Health by 1.0% in the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after purchasing an additional 22 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of Elevance Health by 8.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after purchasing an additional 22 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of Elevance Health by 2.5% during the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV traded up $1.27 during mid-day trading on Thursday, reaching $526.11. 418,460 shares of the company’s stock were exchanged, compared to its average volume of 1,045,115. The business’s fifty day simple moving average is $513.01 and its 200-day simple moving average is $488.20. The stock has a market capitalization of $122.28 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm posted $9.46 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank of Canada raised their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. UBS Group raised their target price on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Mizuho boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

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.