Tocqueville Asset Management L.P. Has $3.38 Million Position in Elevance Health, Inc. (NYSE:ELV)

Tocqueville Asset Management L.P. boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,171 shares of the company’s stock after purchasing an additional 670 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Elevance Health were worth $3,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raelipskie Partnership bought a new position in shares of Elevance Health in the third quarter valued at $26,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at about $26,000. Dunhill Financial LLC boosted its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. OFI Invest Asset Management bought a new stake in Elevance Health during the 4th quarter worth approximately $29,000. Finally, Crews Bank & Trust purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $34,000. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $436.32 on Wednesday. The company has a market capitalization of $99.20 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.18 and a beta of 0.86. The business has a fifty day simple moving average of $397.60 and a two-hundred day simple moving average of $427.09. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays increased their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Monday. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Company Profile

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.