Elevance Health, Inc. (NYSE:ELV) Position Boosted by Systematic Financial Management LP

Systematic Financial Management LP boosted its position in Elevance Health, Inc. (NYSE:ELV) by 82.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,760 shares of the company’s stock after purchasing an additional 795 shares during the period. Systematic Financial Management LP’s holdings in Elevance Health were worth $649,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mutual Advisors LLC lifted its position in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after purchasing an additional 52 shares during the period. JB Capital LLC lifted its position in Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after purchasing an additional 8,038 shares during the period. CIBC Private Wealth Group LLC lifted its position in Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock worth $276,073,000 after purchasing an additional 326,543 shares during the period. Lawson Kroeker Investment Management Inc. NE lifted its position in Elevance Health by 15.8% in the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company’s stock worth $11,837,000 after purchasing an additional 4,372 shares during the period. Finally, VELA Investment Management LLC lifted its position in Elevance Health by 101.6% in the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock worth $765,000 after purchasing an additional 1,045 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

ELV opened at $403.20 on Friday. The stock has a fifty day moving average of $422.47 and a 200-day moving average of $403.66. The firm has a market capitalization of $91.10 billion, a P/E ratio of 15.74, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month 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.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. Elevance Health’s dividend payout ratio is 26.69%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELV. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Truist Financial increased their price objective on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $510.38.

Insider Buying and Selling

In other Elevance Health news, 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 transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,535 shares of company stock worth $3,521,612. Corporate insiders own 0.29% 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.