ProShare Advisors LLC Has $12.95 Million Position in Elevance Health, Inc. (NYSE:ELV)

ProShare Advisors LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 12.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,103 shares of the company’s stock after buying an additional 3,828 shares during the period. ProShare Advisors LLC’s holdings in Elevance Health were worth $12,949,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ELV. Accredited Wealth Management LLC bought a new position in Elevance Health in the 4th quarter valued at approximately $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new position in Elevance Health in the 4th quarter valued at approximately $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the 4th quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new position in Elevance Health in the 4th quarter valued at approximately $30,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of research reports. Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. 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 report on Friday, April 11th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Guggenheim restated a “buy” rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $510.38.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $403.20 on Friday. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The firm has a market capitalization of $91.10 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.18 and a beta of 0.66. The business has a 50-day simple moving average of $422.47 and a 200 day simple moving average of $403.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s payout ratio is 26.69%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 in the last three months. 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.