Mackenzie Financial Corp Sells 9,360 Shares of Elevance Health, Inc. (NYSE:ELV)

Mackenzie Financial Corp lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,425 shares of the company’s stock after selling 9,360 shares during the period. Mackenzie Financial Corp’s holdings in Elevance Health were worth $42,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Elevance Health in the 3rd quarter valued at $25,000. Fortis Capital Advisors LLC bought a new position in Elevance Health during the 4th quarter worth $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Elevance Health during the 3rd quarter worth $30,000. TD Capital Management LLC bought a new position in Elevance Health during the 4th quarter worth $30,000. Finally, Tyler Stone Wealth Management bought a new position in Elevance Health during the 2nd quarter worth $39,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

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

Elevance Health Stock Performance

NYSE:ELV opened at $507.02 on Wednesday. The stock’s 50-day simple moving average is $507.94 and its 200 day simple moving average is $482.10. The firm has a market capitalization of $117.98 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $521.18.

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

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, March 7th. 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 1.29%. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Analyst Ratings Changes

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

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.