Brooklyn FI LLC Invests $519,000 in Elevance Health, Inc. (NYSE:ELV)

Brooklyn FI LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,408 shares of the company's stock, valued at approximately $519,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mutual Advisors LLC grew its position in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after purchasing an additional 52 shares in the last quarter. JB Capital LLC grew its holdings in Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after buying an additional 8,038 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Elevance Health by 82.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after acquiring an additional 326,543 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE raised its holdings in shares of Elevance Health by 15.8% during the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company's stock worth $11,837,000 after acquiring an additional 4,372 shares in the last quarter. Finally, VELA Investment Management LLC boosted its position in shares of Elevance Health by 101.6% during the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock valued at $765,000 after acquiring an additional 1,045 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV stock traded up $3.49 during trading on Friday, reaching $384.02. The company had a trading volume of 3,194,985 shares, compared to its average volume of 1,538,713. The company has a market cap of $86.76 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The firm has a 50-day simple moving average of $415.24 and a 200-day simple moving average of $401.68.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. Elevance Health's dividend payout ratio is currently 26.69%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ELV. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Robert W. Baird restated a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Mizuho increased their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Guggenheim reissued a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Barclays lifted their target price on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $510.38.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is owned by corporate insiders.

Elevance Health Company 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.