NorthCrest Asset Manangement LLC Boosts Position in Elevance Health, Inc. (NYSE:ELV)

NorthCrest Asset Manangement LLC increased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 33,036 shares of the company's stock after acquiring an additional 787 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Elevance Health were worth $12,187,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in Elevance Health during the 4th quarter valued at $29,000. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health during the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Activity at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was 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 in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELV. Mizuho boosted their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Barclays upped their target price on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $502.33.

Elevance Health Price Performance

ELV stock traded up $3.49 during mid-day trading on Friday, hitting $384.02. 3,195,009 shares of the stock were exchanged, compared to its average volume of 1,530,331. The business has a fifty day moving average price of $414.46 and a 200 day moving average price of $401.37. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a market capitalization of $86.76 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.18 and a beta of 0.66.

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 for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders 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 dividend yield of 1.78%. Elevance Health's dividend payout ratio (DPR) is 26.69%.

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.