Elevance Health, Inc. (NYSE:ELV) Stock Holdings Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,284 shares of the company’s stock after selling 6,545 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Elevance Health were worth $110,852,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its position in shares of Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Stifel Financial Corp grew its position in Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after buying an additional 538,978 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after buying an additional 286,905 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Elevance Health during the 3rd quarter valued at $129,221,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 2.5 %

ELV stock opened at $431.29 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a fifty day simple moving average of $396.48 and a 200 day simple moving average of $427.94. The firm has a market cap of $98.06 billion, a PE ratio of 16.84, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company decreased their price target 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. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $519.81.

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.