PKO Investment Management Joint Stock Co Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

PKO Investment Management Joint Stock Co lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 25.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,600 shares of the company’s stock after selling 1,200 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Elevance Health were worth $1,566,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Elevance Health during the fourth quarter valued at $1,135,014,000. Wellington Management Group LLP raised its position in shares of Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after buying an additional 1,893,947 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock valued at $641,355,000 after acquiring an additional 1,472,712 shares during the last quarter. First Eagle Investment Management LLC grew its position in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after acquiring an additional 1,039,612 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in Elevance Health by 6,817.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after acquiring an additional 895,658 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $376.62 on Tuesday. The firm’s fifty day moving average is $403.64 and its two-hundred day moving average is $399.94. The firm has a market cap of $85.09 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.82%. Elevance Health’s payout ratio is 26.69%.

Analyst Ratings Changes

ELV has been the subject of a number of analyst reports. Mizuho raised their price target on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Robert W. Baird reissued a “neutral” rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $498.87.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.