Elevance Health, Inc. (NYSE:ELV) Stock Position Increased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC raised its position in Elevance Health, Inc. (NYSE:ELV) by 6,817.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 908,795 shares of the company’s stock after buying an additional 895,658 shares during the period. Elevance Health comprises 3.3% of Orion Portfolio Solutions LLC’s investment portfolio, making the stock its 2nd biggest position. Orion Portfolio Solutions LLC owned approximately 0.39% of Elevance Health worth $335,254,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. High Ground Investment Management LLP lifted its position in shares of Elevance Health by 205.7% during the 4th quarter. High Ground Investment Management LLP now owns 209,010 shares of the company’s stock valued at $77,104,000 after buying an additional 140,640 shares in the last quarter. New Age Alpha Advisors LLC raised its position in Elevance Health by 35,548.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 10,338 shares of the company’s stock worth $3,814,000 after acquiring an additional 10,309 shares during the period. Norges Bank purchased a new position in Elevance Health during the fourth quarter valued at $1,135,014,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $1,265,000. Finally, Loomis Sayles & Co. L P increased its stake in shares of Elevance Health by 68.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 98,378 shares of the company’s stock worth $36,292,000 after purchasing an additional 39,893 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ELV shares. Truist Financial lowered their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company reduced their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Insider Activity

In other news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The stock was 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 owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’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 transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $431.81 on Friday. The stock has a fifty day simple moving average of $403.50 and a 200-day simple moving average of $422.91. 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 stock has a market cap of $98.17 billion, a PE ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 26.71%.

Elevance Health Company 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.