Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,488,911 shares of the company’s stock after acquiring an additional 91,653 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.07% of Elevance Health worth $918,159,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ELV. Headlands Technologies LLC grew its position in shares of Elevance Health by 20.8% in the fourth quarter. Headlands Technologies LLC now owns 5,809 shares of the company’s stock valued at $2,143,000 after purchasing an additional 1,000 shares in the last quarter. Geode Capital Management LLC boosted 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 buying an additional 115,971 shares during the last quarter. National Bank of Canada FI boosted its stake in Elevance Health by 848.6% during the fourth quarter. National Bank of Canada FI now owns 250,872 shares of the company’s stock worth $92,550,000 after buying an additional 224,425 shares during the last quarter. Family Legacy Inc. increased its stake in shares of Elevance Health by 3.5% in the 4th quarter. Family Legacy Inc. now owns 6,831 shares of the company’s stock worth $2,618,000 after acquiring an additional 232 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in shares of Elevance Health by 1.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,308 shares of the company’s stock worth $11,181,000 after acquiring an additional 508 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $519.81.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, 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, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $433.02 on Wednesday. The company has a market cap of $98.45 billion, a P/E ratio of 16.91, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average price is $406.34 and its 200 day moving average price is $418.81.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. Elevance Health’s payout ratio is currently 26.71%.

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.