World Investment Advisors Has $7.58 Million Stake in Elevance Health, Inc. (NYSE:ELV)

World Investment Advisors lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 20.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,537 shares of the company’s stock after acquiring an additional 3,509 shares during the period. World Investment Advisors’ holdings in Elevance Health were worth $7,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Raelipskie Partnership bought a new stake in Elevance Health in the third quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in Elevance Health in the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the fourth quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the fourth quarter valued at approximately $30,000. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Truist Financial lowered their price objective 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. Finally, Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % 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.

Elevance Health Trading Down 0.8 %

NYSE ELV opened at $429.36 on Thursday. The business’s fifty day moving average is $407.13 and its 200-day moving average is $418.89. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a market capitalization of $97.20 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.59%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. 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.