Pacer Advisors Inc. Sells 782 Shares of Elevance Health, Inc. (NYSE:ELV)

Pacer Advisors Inc. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 4.9% during the 4th quarter, HoldingsChannel reports. The fund owned 15,226 shares of the company’s stock after selling 782 shares during the quarter. Pacer Advisors Inc.’s holdings in Elevance Health were worth $7,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Bison Wealth LLC increased its position in shares of Elevance Health by 7.0% during the second quarter. Bison Wealth LLC now owns 6,250 shares of the company’s stock valued at $2,777,000 after purchasing an additional 410 shares during the period. Catalyst Financial Partners LLC boosted its stake in Elevance Health by 12.4% during the third quarter. Catalyst Financial Partners LLC now owns 662 shares of the company’s stock worth $288,000 after buying an additional 73 shares in the last quarter. Nordea Investment Management AB increased its holdings in Elevance Health by 0.5% in the 4th quarter. Nordea Investment Management AB now owns 1,632,123 shares of the company’s stock valued at $768,387,000 after buying an additional 8,314 shares during the period. Prana Capital Management LP acquired a new position in shares of Elevance Health in the 2nd quarter valued at $21,305,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Elevance Health by 33.1% during the 4th quarter. SG Americas Securities LLC now owns 8,935 shares of the company’s stock worth $4,213,000 after acquiring an additional 2,220 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $519.90 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a 50 day simple moving average of $500.26 and a 200 day simple moving average of $475.45. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $521.18. The firm has a market cap of $120.98 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.14 and a beta of 0.78.

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

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald boosted their target price on shares of Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Barclays began coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $569.36.

Read Our Latest Research Report on ELV

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the 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 $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by insiders.

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.

Further Reading

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELVFree Report).

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

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