Aviva PLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 422,893 shares of the company’s stock after purchasing an additional 51,227 shares during the quarter. Elevance Health makes up about 0.8% of Aviva PLC’s holdings, making the stock its 21st largest position. Aviva PLC owned 0.18% of Elevance Health worth $184,136,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Elevance Health by 2.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 340,136 shares of the company’s stock worth $151,963,000 after purchasing an additional 7,028 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Elevance Health by 8.9% during the third quarter. PNC Financial Services Group Inc. now owns 80,072 shares of the company’s stock worth $34,865,000 after buying an additional 6,517 shares during the period. Paralel Advisors LLC boosted its stake in shares of Elevance Health by 1.1% during the third quarter. Paralel Advisors LLC now owns 4,160 shares of the company’s stock worth $1,811,000 after buying an additional 47 shares during the period. Truepoint Inc. acquired a new stake in shares of Elevance Health during the third quarter worth about $372,000. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of Elevance Health during the third quarter worth about $6,407,000. Hedge funds and other institutional investors own 87.80% of the company’s stock.
Elevance Health Price Performance
Shares of ELV stock traded up $1.61 during midday trading on Wednesday, reaching $506.92. 296,064 shares of the company traded hands, compared to its average volume of 1,148,209. The firm’s 50 day simple moving average is $479.86 and its two-hundred day simple moving average is $465.15. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $513.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.41. The firm has a market cap of $119.13 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.13 and a beta of 0.78.
Elevance Health (NYSE:ELV – Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. During the same period last year, the firm earned $5.23 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts expect that Elevance Health, Inc. will post 37.14 EPS for the current fiscal year.
Elevance Health Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th 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 1.29%. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is presently 23.52%.
Insider Activity
In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred 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 sale, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on ELV. JPMorgan Chase & Co. decreased their target price on shares of Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a research note on Friday, November 17th. Cantor Fitzgerald increased their target price on shares of Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Morgan Stanley raised their price objective on shares of Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Finally, Royal Bank of Canada raised their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $567.90.
Elevance Health Company Profile
Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.