Elevance Health, Inc. (NYSE:ELV) Shares Sold by Foresight Global Investors Inc.

Foresight Global Investors Inc. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 21.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,645 shares of the company’s stock after selling 703 shares during the period. Elevance Health makes up approximately 0.7% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 26th largest position. Foresight Global Investors Inc.’s holdings in Elevance Health were worth $1,247,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC grew its stake in shares of Elevance Health by 7.0% in the fourth quarter. Wealthspire Advisors LLC now owns 729 shares of the company’s stock valued at $344,000 after buying an additional 48 shares in the last quarter. Catalyst Financial Partners LLC grew its position in Elevance Health by 10.3% in the 4th quarter. Catalyst Financial Partners LLC now owns 730 shares of the company’s stock valued at $344,000 after acquiring an additional 68 shares in the last quarter. E Fund Management Co. Ltd. increased its stake in Elevance Health by 9.7% during the fourth quarter. E Fund Management Co. Ltd. now owns 620 shares of the company’s stock worth $292,000 after purchasing an additional 55 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Elevance Health by 6.4% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,635 shares of the company’s stock worth $771,000 after purchasing an additional 98 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of Elevance Health by 2.1% in the fourth quarter. National Pension Service now owns 405,257 shares of the company’s stock valued at $191,103,000 after purchasing an additional 8,209 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ELV. Truist Financial reiterated a “buy” rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. UBS Group increased their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Mizuho increased their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group lifted their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. 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 insiders.

Elevance Health Stock Performance

ELV traded up $5.26 during trading on Thursday, hitting $538.61. 456,566 shares of the stock were exchanged, compared to its average volume of 1,036,637. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $542.07. The stock has a fifty day moving average price of $515.17 and a two-hundred day moving average price of $490.56. The firm has a market capitalization of $125.18 billion, a P/E ratio of 20.35, a PEG ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $9.46 EPS. As a group, sell-side analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.