Vinva Investment Management Ltd Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Vinva Investment Management Ltd grew its stake in Elevance Health, Inc. (NYSE:ELV) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,103 shares of the company’s stock after buying an additional 1,099 shares during the period. Vinva Investment Management Ltd’s holdings in Elevance Health were worth $3,798,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Alaska Permanent Fund Corp acquired a new stake in shares of Elevance Health during the fourth quarter worth $31,000. Hexagon Capital Partners LLC raised its holdings in Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after purchasing an additional 29 shares in the last quarter. ORG Partners LLC acquired a new stake in Elevance Health in the fourth quarter valued at about $40,000. Private Wealth Management Group LLC purchased a new stake in Elevance Health in the 4th quarter valued at approximately $41,000. Finally, Orion Capital Management LLC acquired a new position in Elevance Health during the 3rd quarter worth approximately $46,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.4 %

NYSE ELV traded down $2.10 during mid-day trading on Friday, hitting $538.94. The company’s stock had a trading volume of 742,381 shares, compared to its average volume of 1,047,325. The firm has a market capitalization of $125.26 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $550.34. The stock’s fifty day simple moving average is $526.51 and its two-hundred day simple moving average is $502.70.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $9.46 earnings per share. Research analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ELV. JPMorgan Chase & Co. upped their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Mizuho increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Barclays upped their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $601.64.

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.