Silvercrest Asset Management Group LLC Invests $14.43 Million in Elevance Health, Inc. (NYSE:ELV)

Silvercrest Asset Management Group LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,119 shares of the company's stock, valued at approximately $14,431,000.

A number of other hedge funds have also recently bought and sold shares of ELV. Accredited Wealth Management LLC bought a new position in shares of 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 valued at $26,000. WealthTrak Capital Management LLC bought a new position in Elevance Health during the fourth quarter worth $29,000. Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health in the fourth quarter valued at $30,000. Finally, OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter valued at about $29,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $12.40 during trading on Wednesday, hitting $400.09. 1,539,689 shares of the company were exchanged, compared to its average volume of 1,514,471. 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 1-year low of $357.45 and a 1-year high of $567.26. The company has a market capitalization of $90.39 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The business's 50 day moving average is $422.19 and its 200-day moving average is $403.63.

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

Elevance Health Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

Insider Activity

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction 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 approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company'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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 in the last ninety days. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. 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 report on Wednesday, April 9th. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Truist Financial boosted their target price 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. Argus set a $465.00 price target on shares of Elevance Health in a research report on Friday, April 25th. Finally, Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $510.38.

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.