Polaris Capital Management LLC Sells 400 Shares of Elevance Health, Inc. (NYSE:ELV)

Polaris Capital Management LLC lowered its position in Elevance Health, Inc. (NYSE:ELVFree Report) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 86,269 shares of the company’s stock after selling 400 shares during the period. Elevance Health comprises about 2.0% of Polaris Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Polaris Capital Management LLC’s holdings in Elevance Health were worth $40,681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in Elevance Health during the third quarter valued at about $25,000. Alaska Permanent Fund Corp bought a new stake in Elevance Health in the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC lifted its position in Elevance Health by 63.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after buying an additional 29 shares during the last quarter. ORG Partners LLC purchased a new stake in Elevance Health in the fourth quarter worth approximately $40,000. Finally, Orion Capital Management LLC purchased a new position in shares of Elevance Health during the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 0.1 %

Shares of NYSE ELV traded up $0.60 during midday trading on Friday, hitting $539.18. The stock had a trading volume of 841,374 shares, compared to its average volume of 1,080,086. The company has a market cap of $125.32 billion, a P/E ratio of 20.38, a PEG ratio of 1.19 and a beta of 0.79. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $516.71 and its 200-day moving average is $491.50. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $543.13.

Elevance Health (NYSE:ELVGet Free Report) last issued its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the business posted $9.46 EPS. The company’s revenue was up .9% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a $1.63 dividend. 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 dividend payout ratio (DPR) is 24.64%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays increased 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. Mizuho increased their price objective on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. UBS Group raised their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group increased their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

Get Our Latest Research Report on ELV

Elevance Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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