Beverly Hills Private Wealth LLC Purchases 2,459 Shares of Elevance Health, Inc. (NYSE:ELV)

Beverly Hills Private Wealth LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 26.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,797 shares of the company's stock after purchasing an additional 2,459 shares during the period. Elevance Health accounts for about 0.9% of Beverly Hills Private Wealth LLC's holdings, making the stock its 23rd biggest holding. Beverly Hills Private Wealth LLC's holdings in Elevance Health were worth $4,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ELV. Franklin Resources Inc. boosted its holdings in Elevance Health by 16.1% in the third quarter. Franklin Resources Inc. now owns 1,212,839 shares of the company's stock worth $617,359,000 after purchasing an additional 168,220 shares during the period. Principal Financial Group Inc. raised its position in Elevance Health by 4.5% in the third quarter. Principal Financial Group Inc. now owns 272,649 shares of the company's stock worth $141,777,000 after acquiring an additional 11,646 shares in the last quarter. Pensionfund Sabic increased its holdings in shares of Elevance Health by 59.0% in the fourth quarter. Pensionfund Sabic now owns 4,850 shares of the company's stock valued at $1,789,000 after buying an additional 1,800 shares in the last quarter. Fortem Financial Group LLC lifted its holdings in shares of Elevance Health by 1.9% during the fourth quarter. Fortem Financial Group LLC now owns 2,355 shares of the company's stock valued at $869,000 after purchasing an additional 44 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company's stock worth $8,328,000 after buying an additional 2,725 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $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 accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock worth $3,521,612 in the last quarter. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Truist Financial lifted their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $510.38.

Elevance Health Trading Up 0.9 %

Shares of Elevance Health stock traded up $3.82 during trading on Wednesday, reaching $417.80. 821,865 shares of the company were exchanged, compared to its average volume of 1,467,682. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The business has a 50-day moving average price of $423.24 and a 200-day moving average price of $404.66. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $94.40 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 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 analysts' expectations of $46.26 billion. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company 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 $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

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.