SG Americas Securities LLC Has $4.21 Million Stake in Elevance Health, Inc. (NYSE:ELV)

SG Americas Securities LLC grew its position in Elevance Health, Inc. (NYSE:ELVFree Report) by 33.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,935 shares of the company’s stock after purchasing an additional 2,220 shares during the quarter. SG Americas Securities LLC’s holdings in Elevance Health were worth $4,213,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ELV. Norges Bank acquired a new stake in Elevance Health during the fourth quarter worth approximately $1,253,211,000. Legal & General Group Plc acquired a new stake in Elevance Health during the fourth quarter worth approximately $944,528,000. Moneta Group Investment Advisors LLC acquired a new stake in Elevance Health during the fourth quarter worth approximately $664,077,000. Veritas Asset Management LLP acquired a new stake in Elevance Health during the second quarter worth approximately $503,385,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Elevance Health by 825.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock worth $372,715,000 after purchasing an additional 676,769 shares during the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.

Elevance Health Stock Down 0.2 %

Shares of ELV opened at $513.85 on Monday. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $519.37. The stock has a market capitalization of $119.57 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a fifty day moving average of $498.68 and a 200-day moving average of $474.55.

Elevance Health (NYSE:ELVGet Free Report) last announced its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.60 by $0.02. The business had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $5.23 EPS. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 37.15 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cantor Fitzgerald upped their target price on Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Royal Bank of Canada upped their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Barclays assumed coverage on Elevance Health in a research note on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price for the company. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $569.36.

Get Our Latest Analysis on ELV

About Elevance Health

(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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