Elevance Health, Inc. (NYSE:ELV) Stock Holdings Increased by United Community Bank

United Community Bank lifted its position in Elevance Health, Inc. (NYSE:ELV) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,760 shares of the company’s stock after acquiring an additional 154 shares during the period. United Community Bank’s holdings in Elevance Health were worth $649,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after acquiring an additional 129,709 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after purchasing an additional 85,770 shares during the last quarter. Sanders Capital LLC grew its holdings in Elevance Health by 1.0% during the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after acquiring an additional 44,805 shares during the last quarter. Wellington Management Group LLP grew its holdings in Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELV. Wells Fargo & Company dropped their target price 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 lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Finally, Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

Shares of ELV opened at $409.59 on Friday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business’s fifty day moving average is $390.64 and its 200 day moving average is $434.13. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a market cap of $93.12 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) 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 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.67%. Elevance Health’s dividend payout ratio (DPR) 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.