World Investment Advisors Has $7.58 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

World Investment Advisors grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,537 shares of the company’s stock after buying an additional 3,509 shares during the period. World Investment Advisors’ holdings in Elevance Health were worth $7,576,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ELV. Vanguard Group Inc. grew its holdings in Elevance Health by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after buying an additional 138,380 shares in the last quarter. State Street Corp grew its stake in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after acquiring an additional 129,709 shares in the last quarter. Wellington Management Group LLP increased its position in Elevance Health by 42.5% during 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. Geode Capital Management LLC raised its stake in Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock worth $1,826,447,000 after purchasing an additional 115,971 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Elevance Health by 47.6% in 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 during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $429.36 on Thursday. 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 $97.20 billion, a PE ratio of 16.77, a PEG ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business has a 50-day simple moving average of $407.13 and a two-hundred day simple moving average of $418.89.

Elevance Health (NYSE:ELV) last released 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 return on equity of 18.28% and a net margin of 3.38%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 26.71%.

Wall Street Analyst Weigh In

ELV has been the subject of several recent research reports. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Monday, March 17th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $519.81.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred 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 owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

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.