Intellectus Partners LLC Increases Position in Elevance Health, Inc. (NYSE:ELV)

Intellectus Partners LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 35.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,440 shares of the company’s stock after acquiring an additional 1,171 shares during the quarter. Intellectus Partners LLC’s holdings in Elevance Health were worth $2,094,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after purchasing an additional 255,138 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after buying an additional 249,533 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock worth $279,063,000 after buying an additional 234,439 shares during the period. Schroder Investment Management Group boosted its position in shares of Elevance Health by 18.2% during the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock worth $579,493,000 after buying an additional 204,715 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in shares of Elevance Health by 59.3% during the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock worth $214,011,000 after buying an additional 182,889 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ELV. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Royal Bank of Canada boosted their target price on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Truist Financial reissued a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Mizuho boosted their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group upped their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Elevance Health Stock Down 0.4 %

NYSE:ELV traded down $2.42 during trading hours on Friday, hitting $537.26. 700,726 shares of the stock traded hands, compared to its average volume of 1,135,198. The firm has a 50 day moving average price of $511.89 and a 200 day moving average price of $486.62. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The firm has a market cap of $124.87 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate 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%. Elevance Health’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $9.46 EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders 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 yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Buying and Selling at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated 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 sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.