Flputnam Investment Management Co. Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

Flputnam Investment Management Co. decreased its position in Elevance Health, Inc. (NYSE:ELV) by 19.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,638 shares of the company’s stock after selling 2,100 shares during the period. Flputnam Investment Management Co.’s holdings in Elevance Health were worth $4,074,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ELV. Roundview Capital LLC grew its stake in shares of Elevance Health by 2.9% in the 1st quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock valued at $912,000 after buying an additional 52 shares during the period. Moors & Cabot Inc. acquired a new position in shares of Elevance Health in the 1st quarter worth approximately $251,000. Baird Financial Group Inc. lifted its holdings in shares of Elevance Health by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock worth $7,305,000 after acquiring an additional 57 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of Elevance Health by 52.1% in the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock worth $439,000 after acquiring an additional 306 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Elevance Health by 102.9% in the 1st quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock worth $416,000 after acquiring an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Elevance Health Stock Up 1.6 %

Shares of NYSE ELV traded up $7.95 during mid-day trading on Tuesday, reaching $508.04. The company had a trading volume of 216,420 shares, compared to its average volume of 1,014,821. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $507.68 and a two-hundred day simple moving average of $481.59. The stock has a market cap of $118.22 billion, a P/E ratio of 19.88, a PEG ratio of 1.09 and a beta of 0.78. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $521.18.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $5.23 EPS. Sell-side analysts predict that Elevance Health, Inc. will post 37.03 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $1.63 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Barclays started coverage on shares of Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price on the stock. Royal Bank of Canada increased their target price on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company reduced their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $569.00.

Elevance Health 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.