Sciencast Management LP Invests $3.04 Million in Elevance Health, Inc. (NYSE:ELV)

Sciencast Management LP bought a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 8,248 shares of the company’s stock, valued at approximately $3,043,000. Elevance Health accounts for about 0.8% of Sciencast Management LP’s investment portfolio, making the stock its 18th largest holding.

A number of other large investors also recently made changes to their positions in the company. Raelipskie Partnership purchased a new stake in Elevance Health in the 3rd quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. bought a new stake in Elevance Health during the fourth quarter worth $30,000. Finally, Crews Bank & Trust purchased a new position in Elevance Health in the fourth quarter worth $34,000. 89.24% of the stock is owned by institutional investors.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 1.6 %

Shares of NYSE:ELV opened at $427.27 on Friday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock’s 50-day moving average price is $400.52 and its 200-day moving average price is $426.27. The stock has a market capitalization of $97.14 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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 analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. Elevance Health’s payout ratio is presently 26.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Monday, March 17th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $519.81.

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.