4,009 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,009 shares of the company's stock, valued at approximately $1,744,000. Elevance Health accounts for approximately 0.9% of Cornercap Investment Counsel Inc.'s holdings, making the stock its 25th largest position.

Other large investors also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new stake in Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the 4th quarter valued at about $26,000. Riverview Trust Co boosted its position in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after buying an additional 67 shares during the period. WealthTrak Capital Management LLC purchased a new stake in Elevance Health in the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health in the 4th quarter valued at about $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on 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 sale, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the stock a "buy" rating in a research note on Monday, June 9th. UBS Group reiterated a "buy" rating and set a $484.00 price objective (down previously from $555.00) on shares of Elevance Health in a research note on Monday. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and a consensus target price of $491.07.

Elevance Health Stock Down 0.3%

ELV stock opened at $339.77 on Tuesday. The firm's fifty day simple moving average is $379.34 and its 200-day simple moving average is $397.52. The company has a market capitalization of $76.77 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. Elevance Health, Inc. has a 12 month low of $335.17 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. As a group, equities research 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 declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 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.

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