Van ECK Associates Corp Has $5.32 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Van ECK Associates Corp lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,289 shares of the company’s stock after buying an additional 245 shares during the quarter. Van ECK Associates Corp’s holdings in Elevance Health were worth $5,323,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Sanders Capital LLC grew its position in shares of Elevance Health by 1.4% during the 3rd quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after buying an additional 58,013 shares during the period. Baillie Gifford & Co. grew its position in shares of Elevance Health by 0.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after buying an additional 27,986 shares during the period. Morgan Stanley grew its position in shares of Elevance Health by 1.7% during the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after buying an additional 46,322 shares during the period. Northern Trust Corp grew its position in shares of Elevance Health by 2.4% during the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock worth $1,052,175,000 after buying an additional 57,098 shares during the period. Finally, Artisan Partners Limited Partnership grew its position in shares of Elevance Health by 7.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock worth $1,035,884,000 after buying an additional 160,524 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ELV shares. Truist Financial reissued a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Mizuho lifted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group lifted their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ramiro G. Peru sold 753 shares of the business’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 transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Shares of ELV opened at $526.96 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The firm’s 50 day moving average price is $513.54 and its two-hundred day moving average price is $488.91. The firm has a market cap of $122.48 billion, a P/E ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders 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 dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

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.