WINTON GROUP Ltd Buys New Stake in Elevance Health, Inc. (NYSE:ELV)

WINTON GROUP Ltd purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,816 shares of the company’s stock, valued at approximately $5,097,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. Tobam grew its holdings in shares of Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares in the last quarter. Austin Private Wealth LLC increased its position in Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after purchasing an additional 29 shares during the last quarter. Finally, Quent Capital LLC raised its stake in Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered their price target 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. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $519.81.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’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 sale, the executive vice president now owns 10,116 shares in the company, valued at $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. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

Shares of ELV stock opened at $430.29 on Thursday. The company has a market capitalization of $97.83 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.18 and a beta of 0.86. The company’s 50-day simple moving average is $402.56 and its two-hundred day simple moving average is $422.85. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s payout ratio is presently 26.71%.

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.