Aware Super Pty Ltd as trustee of Aware Super Acquires New Shares in Elevance Health, Inc. (NYSE:ELV)

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,781 shares of the company’s stock, valued at approximately $1,764,000.

Several other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Elevance Health during the 4th quarter valued at approximately $1,135,014,000. Wellington Management Group LLP boosted its stake in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after buying an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after acquiring an additional 895,658 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Elevance Health by 17.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company’s stock worth $1,060,901,000 after purchasing an additional 437,103 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health 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 transaction, the chief accounting officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly 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.

Elevance Health Stock Performance

ELV opened at $437.83 on Wednesday. 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 50 day moving average of $414.67 and a 200-day moving average of $412.17. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market cap of $99.12 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last announced its 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 return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Truist Financial upped their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Guggenheim started coverage on shares of Elevance Health in a report on Wednesday, April 9th. They set a “buy” rating and a $518.00 target price on the stock. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $514.41.

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.