Kapitalo Investimentos Ltda Raises Stake in Elevance Health, Inc. (NYSE:ELV)

Kapitalo Investimentos Ltda increased its stake in Elevance Health, Inc. (NYSE:ELVFree Report) by 40.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,293 shares of the company’s stock after buying an additional 374 shares during the period. Kapitalo Investimentos Ltda’s holdings in Elevance Health were worth $610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Elevance Health during the fourth quarter worth approximately $1,347,434,000. Massachusetts Financial Services Co. MA bought a new position in shares of Elevance Health during the 4th quarter worth $467,141,000. Canoe Financial LP raised its holdings in shares of Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after acquiring an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC purchased a new stake in Elevance Health in the fourth quarter worth about $239,244,000. Finally, International Assets Investment Management LLC increased its position in Elevance Health by 45,888.1% during the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after purchasing an additional 255,138 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

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 completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ELV. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Bank of America raised their target price on shares of Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research note on Wednesday, June 12th. Finally, Stephens reiterated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research note on Tuesday, June 11th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of “Buy” and an average target price of $607.36.

Read Our Latest Analysis on Elevance Health

Elevance Health Price Performance

ELV stock traded down $1.63 during mid-day trading on Tuesday, reaching $532.75. The company’s stock had a trading volume of 79,015 shares, compared to its average volume of 1,028,427. The stock has a market cap of $123.82 billion, a PE ratio of 20.20, a P/E/G ratio of 1.18 and a beta of 0.83. The company’s 50 day moving average is $529.99 and its two-hundred day moving average is $505.58. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $9.46 EPS. Equities research analysts expect that Elevance Health, Inc. will post 37.2 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s dividend payout ratio is presently 24.64%.

Elevance Health 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.

See Also

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

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