National Bank of Canada FI Buys 224,425 Shares of Elevance Health, Inc. (NYSE:ELV)

National Bank of Canada FI lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 848.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 250,872 shares of the company’s stock after acquiring an additional 224,425 shares during the quarter. National Bank of Canada FI owned approximately 0.11% of Elevance Health worth $92,550,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ELV. Family Legacy Inc. grew its stake in Elevance Health by 3.5% during the fourth quarter. Family Legacy Inc. now owns 6,831 shares of the company’s stock worth $2,618,000 after buying an additional 232 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in Elevance Health by 1.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,308 shares of the company’s stock worth $11,181,000 after buying an additional 508 shares during the period. FSB Premier Wealth Management Inc. raised its position in Elevance Health by 13.1% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,844 shares of the company’s stock worth $1,049,000 after purchasing an additional 329 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares during the period. Finally, Inkwell Capital LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at $1,195,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELV. Argus upgraded 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, March 17th. Truist Financial cut their price objective 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. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research note on Friday. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm’s 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 approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $433.02 on Wednesday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $98.45 billion, a PE ratio of 16.91, a P/E/G ratio of 1.18 and a beta of 0.86. The firm has a 50 day moving average of $406.34 and a two-hundred day moving average of $418.81.

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

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

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.