American International Group Inc. Decreases Holdings in Elevance Health, Inc. (NYSE:ELV)

American International Group Inc. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 71,887 shares of the company’s stock after selling 2,378 shares during the quarter. American International Group Inc.’s holdings in Elevance Health were worth $33,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Richwood Investment Advisors LLC boosted its position in shares of Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after purchasing an additional 20 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in shares of Elevance Health by 2.1% during the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after acquiring an additional 20 shares in the last quarter. Alliance Wealth Advisors LLC increased its holdings in shares of Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after acquiring an additional 21 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Elevance Health by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after purchasing an additional 22 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its stake in Elevance Health by 2.5% during the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after purchasing an additional 22 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV stock traded down $3.94 during trading hours on Friday, reaching $534.81. 584,312 shares of the company traded hands, compared to its average volume of 1,073,649. The firm has a 50-day moving average price of $529.50 and a 200 day moving average price of $504.92. The company has a market cap of $124.30 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $550.34.

Elevance Health (NYSE:ELVGet Free Report) last posted its quarterly earnings results 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 net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the prior year, the business posted $9.46 earnings per share. The company’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Elevance Health, Inc. will post 37.2 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stephens reiterated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a report on Tuesday, June 11th. Mizuho upped their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird began coverage on Elevance Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Elevance Health presently has a consensus rating of “Buy” and an average target price of $607.36.

Get Our Latest Analysis on ELV

Elevance Health Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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