PARUS FINANCE UK Ltd Buys 30 Shares of Elevance Health, Inc. (NYSE:ELV)

PARUS FINANCE UK Ltd boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,406 shares of the company’s stock after acquiring an additional 30 shares during the period. Elevance Health accounts for about 1.4% of PARUS FINANCE UK Ltd’s holdings, making the stock its 19th biggest position. PARUS FINANCE UK Ltd’s holdings in Elevance Health were worth $4,577,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Allianz SE bought a new position in shares of Elevance Health during the 4th quarter valued at about $5,339,000. Transamerica Financial Advisors Inc. lifted its position in Elevance Health by 20,500.0% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 206 shares of the company’s stock valued at $76,000 after purchasing an additional 205 shares during the last quarter. WealthTrak Capital Management LLC purchased a new stake in Elevance Health during the 4th quarter valued at $29,000. Allstate Corp bought a new position in shares of Elevance Health during the fourth quarter valued at about $2,555,000. Finally, DnB Asset Management AS grew its stake in shares of Elevance Health by 5.8% in the fourth quarter. DnB Asset Management AS now owns 59,246 shares of the company’s stock worth $21,856,000 after purchasing an additional 3,263 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Truist Financial lowered their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 0.0 %

Shares of NYSE:ELV opened at $431.84 on Friday. The stock has a 50 day moving average of $404.45 and a 200 day moving average of $422.13. The company has a market cap of $98.18 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. 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.

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

Elevance Health Increases Dividend

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