C WorldWide Group Holding A S Has $33.08 Million Stake in Elevance Health, Inc. (NYSE:ELV)

C WorldWide Group Holding A S trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,144 shares of the company’s stock after selling 656 shares during the quarter. Elevance Health comprises 0.4% of C WorldWide Group Holding A S’s portfolio, making the stock its 24th biggest holding. C WorldWide Group Holding A S’s holdings in Elevance Health were worth $33,077,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. abrdn plc increased its position in Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC raised its stake in shares of Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Elevance Health in the fourth quarter valued at approximately $218,000. Chicago Capital LLC boosted its stake in Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after acquiring an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in Elevance Health during the 4th quarter worth $2,235,000. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Truist Financial reissued a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Royal Bank of Canada upped their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, UBS Group boosted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Stock Down 0.4 %

Shares of NYSE:ELV traded down $2.42 during mid-day trading on Friday, reaching $537.26. 700,726 shares of the stock were exchanged, compared to its average volume of 1,135,198. The company has a market cap of $124.87 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 0.78. The stock’s 50 day simple moving average is $511.89 and its 200-day simple moving average is $486.40. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS 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 for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the previous year, the firm posted $9.46 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is 24.64%.

Elevance Health 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.