Elevance Health, Inc. (NYSE:ELV) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,342 shares of the company’s stock after purchasing an additional 110 shares during the period. OLD National Bancorp IN’s holdings in Elevance Health were worth $2,519,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI acquired a new position in Elevance Health in the fourth quarter valued at approximately $409,000. Cetera Trust Company N.A acquired a new position in Elevance Health in the fourth quarter valued at approximately $2,637,000. CWM LLC lifted its holdings in Elevance Health by 2.4% in the fourth quarter. CWM LLC now owns 6,060 shares of the company’s stock valued at $2,858,000 after acquiring an additional 140 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Elevance Health by 3.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,604 shares of the company’s stock valued at $11,602,000 after acquiring an additional 815 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in Elevance Health by 2.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 15,791 shares of the company’s stock valued at $7,446,000 after acquiring an additional 346 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.1 %

Elevance Health stock opened at $532.17 on Tuesday. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $539.11. The stock’s fifty day simple moving average is $509.68 and its 200-day simple moving average is $484.51. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $123.69 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.16 and a beta of 0.78.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the prior year, the company earned $9.46 earnings per share. The company’s revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada boosted their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group boosted their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Truist Financial reissued a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research report on Friday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $587.64.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the business’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 completion of the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.