Sanders Capital LLC Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Sanders Capital LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,261,976 shares of the company’s stock after purchasing an additional 58,013 shares during the period. Elevance Health comprises 3.9% of Sanders Capital LLC’s portfolio, making the stock its 10th biggest holding. Sanders Capital LLC owned about 1.81% of Elevance Health worth $1,855,750,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BDO Wealth Advisors LLC boosted its holdings in shares of Elevance Health by 266.7% in the 2nd quarter. BDO Wealth Advisors LLC now owns 55 shares of the company’s stock worth $25,000 after acquiring an additional 40 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $25,000. Fortis Capital Advisors LLC acquired a new position in Elevance Health during the 4th quarter worth $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Elevance Health during the 3rd quarter worth $30,000. Finally, TD Capital Management LLC acquired a new position in Elevance Health during the 4th quarter worth $30,000. Institutional investors own 87.80% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 0.8 %

ELV stock traded up $3.93 during trading hours on Friday, reaching $506.08. 800,923 shares of the stock were exchanged, compared to its average volume of 1,265,189. The firm’s 50-day moving average is $478.95 and its 200-day moving average is $464.67. The company has a market cap of $118.93 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.13 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.41. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $506.82.

Elevance Health (NYSE:ELVGet Free Report) last released its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.23 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 37.14 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, March 7th. Elevance Health’s dividend payout ratio is currently 23.52%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. reduced their price objective on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $547.00 target price on shares of Elevance Health in a research report on Friday, February 2nd. Morgan Stanley upped their target price on shares of Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Finally, Royal Bank of Canada upped their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $564.60.

Check Out Our Latest Analysis on Elevance Health

About Elevance Health

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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