Ninety One SA PTY Ltd Buys 7,994 Shares of Elevance Health, Inc. (NYSE:ELV)

Ninety One SA PTY Ltd increased its stake in Elevance Health, Inc. (NYSE:ELV) by 24.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,149 shares of the company’s stock after acquiring an additional 7,994 shares during the quarter. Elevance Health comprises 2.9% of Ninety One SA PTY Ltd’s holdings, making the stock its 10th largest holding. Ninety One SA PTY Ltd’s holdings in Elevance Health were worth $18,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Alliance Wealth Advisors LLC increased its position in shares of Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after acquiring an additional 21 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of Elevance Health by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after purchasing an additional 22 shares during the period. Financial Counselors Inc. boosted its holdings in shares of Elevance Health by 1.0% in the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after buying an additional 22 shares during the last quarter. Capital Investment Advisors LLC grew its position in Elevance Health by 2.5% during the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after buying an additional 22 shares during the period. Finally, Sugarloaf Wealth Management LLC increased its holdings in Elevance Health by 8.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after buying an additional 22 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays began coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price on the stock. Royal Bank of Canada raised their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $569.00.

Elevance Health Price Performance

NYSE ELV traded up $20.80 during trading hours on Thursday, hitting $529.77. The company had a trading volume of 1,575,496 shares, compared to its average volume of 1,039,914. The firm has a 50 day simple moving average of $508.17 and a 200 day simple moving average of $482.29. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $539.11. The firm has a market capitalization of $123.28 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The company had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. Elevance Health’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $5.23 earnings per share. Equities research analysts expect that Elevance Health, Inc. will post 37.03 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s payout ratio is 25.90%.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.35% 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.