Strategic Wealth Partners Ltd. reduced its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,192 shares of the company's stock after selling 708 shares during the period. Strategic Wealth Partners Ltd.'s holdings in Elevance Health were worth $1,642,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC boosted its holdings in shares of Elevance Health by 40.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,138 shares of the company's stock worth $789,000 after buying an additional 621 shares during the last quarter. Merit Financial Group LLC raised its stake in Elevance Health by 6.0% during the 4th quarter. Merit Financial Group LLC now owns 3,418 shares of the company's stock worth $1,261,000 after acquiring an additional 192 shares during the period. Arkadios Wealth Advisors lifted its holdings in Elevance Health by 11.5% during the fourth quarter. Arkadios Wealth Advisors now owns 1,107 shares of the company's stock valued at $408,000 after purchasing an additional 114 shares in the last quarter. HF Advisory Group LLC boosted its position in shares of Elevance Health by 35.9% in the fourth quarter. HF Advisory Group LLC now owns 5,070 shares of the company's stock worth $1,870,000 after purchasing an additional 1,339 shares during the period. Finally, Liberty One Investment Management LLC increased its stake in shares of Elevance Health by 13.7% in the fourth quarter. Liberty One Investment Management LLC now owns 9,079 shares of the company's stock worth $3,349,000 after purchasing an additional 1,096 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.
Elevance Health Price Performance
Shares of NYSE:ELV traded down $16.17 during midday trading on Thursday, hitting $383.95. The company's stock had a trading volume of 1,964,969 shares, compared to its average volume of 1,516,267. The company has a market cap of $86.75 billion, a P/E 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 12-month low of $357.45 and a 12-month high of $567.26. The business's 50 day simple moving average is $421.75 and its 200 day simple moving average is $403.61.
Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.
Elevance Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 26.69%.
Insider Buying and Selling
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 transaction of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 in the last three months. 0.29% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Argus set a $465.00 price target on shares of Elevance Health in a report on Friday, April 25th. Finally, Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $510.38.
Check Out Our Latest Research Report on ELV
Elevance Health Company Profile
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Free Report)
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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