Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,860 shares of the company’s stock after purchasing an additional 34 shares during the quarter. Forum Financial Management LP’s holdings in Elevance Health were worth $1,055,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GeoWealth Management LLC lifted its stake in shares of Elevance Health by 20.3% during the fourth quarter. GeoWealth Management LLC now owns 1,469 shares of the company’s stock worth $542,000 after buying an additional 248 shares during the period. Capital International Investors increased its position in shares of Elevance Health by 0.9% in the 4th quarter. Capital International Investors now owns 3,880,630 shares of the company’s stock valued at $1,431,559,000 after acquiring an additional 35,576 shares during the period. Capital International Sarl raised its stake in Elevance Health by 32.8% in the 4th quarter. Capital International Sarl now owns 1,029 shares of the company’s stock worth $380,000 after acquiring an additional 254 shares during the last quarter. Alpha DNA Investment Management LLC lifted its position in Elevance Health by 16.1% during the 4th quarter. Alpha DNA Investment Management LLC now owns 4,655 shares of the company’s stock worth $1,717,000 after acquiring an additional 645 shares during the period. Finally, Ally Financial Inc. grew its stake in Elevance Health by 200.0% during the 4th quarter. Ally Financial Inc. now owns 12,000 shares of the company’s stock valued at $4,427,000 after purchasing an additional 8,000 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Elevance Health Price Performance

NYSE:ELV opened at $424.44 on Friday. The stock has a 50 day moving average of $416.77 and a two-hundred day moving average of $411.07. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market cap of $96.09 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. 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 issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 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%. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared 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. 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.61%. Elevance Health’s payout ratio is presently 26.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Mizuho upped their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Guggenheim initiated coverage on shares of Elevance Health in a report on Wednesday, April 9th. They set a “buy” rating and a $518.00 target price for the company. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.