Ramirez Asset Management Inc. Purchases 400 Shares of Elevance Health, Inc. (NYSE:ELV)

Ramirez Asset Management Inc. boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 3,636.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 411 shares of the company’s stock after buying an additional 400 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Elevance Health were worth $152,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ELV shares. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a report on Monday, March 17th. 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 note on Wednesday, January 22nd. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Trading Up 0.3 %

Shares of NYSE ELV opened at $431.81 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $403.50 and a two-hundred day simple moving average of $422.91. The firm has a market cap of $98.17 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

About Elevance Health

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.