Cypress Advisory Group LLC Invests $1.78 Million in Elevance Health, Inc. (NYSE:ELV)

Cypress Advisory Group LLC bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,834 shares of the company's stock, valued at approximately $1,783,000. Elevance Health comprises about 1.6% of Cypress Advisory Group LLC's investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Elevance Health during the third quarter valued at approximately $2,828,000. Te Ahumairangi Investment Management Ltd increased its position in Elevance Health by 39.6% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company's stock valued at $5,433,000 after purchasing an additional 2,983 shares during the period. Tudor Financial Inc. bought a new position in Elevance Health in the 3rd quarter worth $235,000. Anchor Investment Management LLC lifted its position in shares of Elevance Health by 22.9% in the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company's stock worth $3,171,000 after purchasing an additional 1,135 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Elevance Health during the 3rd quarter valued at about $8,855,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction 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 represents a 19.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock worth $3,521,612 over the last three months. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ELV has been the subject of several research analyst reports. Argus set a $465.00 price objective on shares of Elevance Health in a report on Friday, April 25th. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Truist Financial raised their price objective on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.

Elevance Health Stock Up 0.3 %

Shares of ELV traded up $1.42 on Friday, hitting $409.73. 1,048,495 shares of the stock traded hands, compared to its average volume of 1,466,849. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a market capitalization of $92.57 billion, a PE ratio of 16.00, a P/E/G ratio of 1.18 and a beta of 0.66. The business has a 50 day simple moving average of $422.21 and a 200 day simple moving average of $404.98. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities analysts forecast 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. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is presently 26.69%.

Elevance Health Company 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.