2,953 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Eschler Asset Management LLP

Eschler Asset Management LLP bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,953 shares of the company's stock, valued at approximately $1,089,000. Elevance Health accounts for about 2.6% of Eschler Asset Management LLP's investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tobam grew its stake in Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Jacobi Capital Management LLC grew its stake in Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after purchasing an additional 27 shares during the last quarter. Austin Private Wealth LLC grew its stake in Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after purchasing an additional 29 shares during the last quarter. Quent Capital LLC grew its stake in Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after purchasing an additional 30 shares during the last quarter. Finally, RDA Financial Network grew its stake in Elevance Health by 0.5% in the fourth quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

ELV has been the topic of several analyst reports. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Truist Financial raised their price target on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Mizuho raised their price target on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $510.38.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $7.86 on Friday, reaching $404.52. 948,113 shares of the stock were exchanged, compared to its average volume of 1,472,531. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a market capitalization of $91.40 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.18 and a beta of 0.66. The business has a 50 day moving average price of $424.13 and a two-hundred day moving average price of $404.41.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is presently 26.69%.

About Elevance Health

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.