E Fund Management Co. Ltd. Acquires 760 Shares of Elevance Health, Inc. (NYSE:ELV)

E Fund Management Co. Ltd. lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 114.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,425 shares of the company’s stock after purchasing an additional 760 shares during the period. E Fund Management Co. Ltd.’s holdings in Elevance Health were worth $526,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership bought a new position in shares of Elevance Health during the 3rd quarter valued at $26,000. Crews Bank & Trust bought a new position in shares of Elevance Health during the 4th quarter valued at $34,000. Dunhill Financial LLC boosted its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the period. Peterson Financial Group Inc. purchased a new stake in Elevance Health during the 3rd quarter valued at $44,000. Finally, Financial Perspectives Inc purchased a new stake in Elevance Health during the 4th quarter valued at $50,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ELV has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Up 1.7 %

Shares of NYSE ELV opened at $409.59 on Friday. The stock has a market cap of $93.12 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. 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, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a 50-day moving average of $390.64 and a 200 day moving average of $434.88.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. 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 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

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.