Sei Investments Co. Purchases 18,858 Shares of Elevance Health, Inc. (NYSE:ELV)

Sei Investments Co. boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 14.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,577 shares of the company’s stock after buying an additional 18,858 shares during the quarter. Sei Investments Co. owned approximately 0.06% of Elevance Health worth $55,184,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ELV. Mutual Advisors LLC increased its holdings in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after purchasing an additional 52 shares during the period. Czech National Bank increased its stake in shares of Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after buying an additional 3,049 shares during the period. Benjamin Edwards Inc. raised its position in shares of Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after acquiring an additional 50,603 shares during the last quarter. Diversified Trust Co boosted its holdings in Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after acquiring an additional 2,725 shares during the last quarter. Finally, JB Capital LLC raised its holdings in Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after purchasing an additional 8,038 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

ELV stock opened at $427.27 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The business has a 50-day simple moving average of $400.52 and a two-hundred day simple moving average of $424.46. The company 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, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

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, 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 EPS for the current fiscal year.

Elevance Health Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Finally, Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Monday, March 17th. Two equities 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % 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 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.