Family Management Corp Purchases 4,621 Shares of Elevance Health, Inc. (NYSE:ELV)

Family Management Corp lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 63.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,947 shares of the company's stock after acquiring an additional 4,621 shares during the period. Family Management Corp's holdings in Elevance Health were worth $4,407,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new position in shares of Elevance Health during the 4th quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new position in shares of Elevance Health in the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the company'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 transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,535 shares of company stock valued at $3,521,612. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ELV shares. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Mizuho upped their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $7.86 during mid-day trading on Friday, reaching $404.52. 948,113 shares of the stock were exchanged, compared to its average volume of 1,472,531. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a market cap of $91.40 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The firm has a 50-day simple moving average of $424.13 and a 200 day simple moving average of $404.51. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $46.26 billion. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is 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.