E Fund Management Co. Ltd. Has $292,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

E Fund Management Co. Ltd. boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.7% in the fourth quarter, HoldingsChannel reports. The firm owned 620 shares of the company’s stock after purchasing an additional 55 shares during the period. E Fund Management Co. Ltd.’s holdings in Elevance Health were worth $292,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Elevance Health during the third quarter valued at approximately $25,000. Alaska Permanent Fund Corp purchased a new position in Elevance Health in the fourth quarter worth $31,000. Hexagon Capital Partners LLC boosted its position in Elevance Health by 63.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after purchasing an additional 29 shares during the last quarter. ORG Partners LLC purchased a new position in Elevance Health in the fourth quarter worth $40,000. Finally, Orion Capital Management LLC purchased a new position in Elevance Health in the third quarter worth $46,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $5.26 during midday trading on Thursday, reaching $538.61. 456,566 shares of the company traded hands, compared to its average volume of 1,036,637. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The firm has a market capitalization of $125.18 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. The firm’s fifty day moving average price is $515.17 and its two-hundred day moving average price is $490.56.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $9.46 EPS. On average, equities analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Ratings Changes

ELV has been the topic of several research analyst reports. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays boosted their price objective on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. UBS Group upped their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group upped their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $587.42.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Company 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.