Sava Infond d.o.o. Raises Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Sava Infond d.o.o. boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 27.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,200 shares of the company’s stock after buying an additional 2,600 shares during the period. Elevance Health makes up approximately 1.0% of Sava Infond d.o.o.’s portfolio, making the stock its 20th biggest position. Sava Infond d.o.o.’s holdings in Elevance Health were worth $5,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Elevance Health by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after buying an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Elevance Health by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock valued at $3,917,004,000 after buying an additional 464,137 shares during the period. Wellington Management Group LLP increased its stake in Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. Geode Capital Management LLC increased its stake in Elevance Health by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock worth $1,826,447,000 after purchasing an additional 115,971 shares during the period. Finally, Sanders Capital LLC increased its stake in Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock worth $1,728,722,000 after purchasing an additional 76,896 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ELV. Robert W. Baird reiterated a “neutral” rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the stock a “buy” rating in a research note on Monday, June 9th. Finally, Barclays cut their price target on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $498.87.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

Shares of ELV opened at $372.53 on Tuesday. The stock has a 50 day moving average price of $397.31 and a 200 day moving average price of $399.09. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $84.17 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. Research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

About Elevance Health

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.