Tocqueville Asset Management L.P. Acquires 670 Shares of Elevance Health, Inc. (NYSE:ELV)

Tocqueville Asset Management L.P. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,171 shares of the company’s stock after acquiring an additional 670 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Elevance Health were worth $3,383,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. State Street Corp raised its stake in 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 purchasing an additional 129,709 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Elevance Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares in the last quarter. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 1.0% during the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after acquiring an additional 44,805 shares during the last quarter. Wellington Management Group LLP grew its position in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after acquiring an additional 1,039,612 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other 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 stock was sold at an average price of $396.30, for a total value 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 $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several research analyst reports. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Barclays boosted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Monday. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Elevance Health Stock Performance

Elevance Health stock opened at $436.32 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market cap of $99.20 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm has a 50-day moving average of $397.60 and a 200-day moving average of $427.09.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.57%. Elevance Health’s dividend payout ratio is 26.71%.

About Elevance Health

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.