Elevance Health, Inc. (NYSE:ELV) Shares Bought by NorthRock Partners LLC

NorthRock Partners LLC raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 121.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,067 shares of the company's stock after purchasing an additional 1,132 shares during the quarter. NorthRock Partners LLC's holdings in Elevance Health were worth $763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Accredited Wealth Management LLC acquired a new stake in Elevance Health during the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health during the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC acquired a new stake in Elevance Health during the 4th quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Analysts Set New Price Targets

ELV has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Mizuho increased their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Truist Financial increased their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $510.38.

Elevance Health Stock Up 0.0%

Shares of Elevance Health stock traded up $0.09 on Monday, hitting $403.38. 1,329,180 shares of the company's stock traded hands, compared to its average volume of 1,507,988. The stock has a market cap of $91.14 billion, a P/E ratio of 15.75, a PEG ratio of 1.18 and a beta of 0.66. 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's 50-day moving average is $422.47 and its 200 day moving average is $403.64. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 10,116 shares of the company's stock, valued at $4,008,970.80. This trade represents a 25.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 over the last ninety days. 0.29% of the stock is owned by insiders.

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.