DSG Capital Advisors LLC Invests $1.48 Million in Elevance Health, Inc. (NYSE:ELV)

DSG Capital Advisors LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,005 shares of the company's stock, valued at approximately $1,477,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its position in shares of Elevance Health by 18.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,343 shares of the company's stock valued at $864,000 after purchasing an additional 373 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Elevance Health by 29.3% during the 4th quarter. Flagship Harbor Advisors LLC now owns 794 shares of the company's stock worth $293,000 after purchasing an additional 180 shares during the last quarter. Blue Trust Inc. grew its holdings in Elevance Health by 115.7% during the fourth quarter. Blue Trust Inc. now owns 6,117 shares of the company's stock valued at $2,257,000 after purchasing an additional 3,281 shares during the period. Pacer Advisors Inc. raised its stake in shares of Elevance Health by 17.3% in the fourth quarter. Pacer Advisors Inc. now owns 28,837 shares of the company's stock valued at $10,638,000 after buying an additional 4,249 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its holdings in Elevance Health by 2.6% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,115 shares of the company's stock worth $1,518,000 after acquiring an additional 105 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on ELV shares. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Guggenheim reiterated a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Truist Financial raised their price target on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $502.33.

Elevance Health Trading Up 0.9%

ELV opened at $384.02 on Monday. The business has a 50 day moving average of $414.46 and a 200-day moving average of $401.37. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. 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 stock has a market cap of $86.76 billion, a PE ratio of 14.99, a PEG ratio of 1.18 and a beta of 0.66.

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

Elevance Health Announces Dividend

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

Insider Activity at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73% 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 valued at $3,521,612 in the last ninety days. Corporate insiders own 0.29% of the company's stock.

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.