J Hagan Capital Inc. Acquires New Shares in Elevance Health, Inc. (NYSE:ELV)

J Hagan Capital Inc. acquired a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,268 shares of the company's stock, valued at approximately $552,000. Elevance Health accounts for 0.5% of J Hagan Capital Inc.'s investment portfolio, making the stock its 29th largest position.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after buying an additional 138,380 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after buying an additional 464,137 shares in the last quarter. Wellington Management Group LLP grew its holdings in Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after buying an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC grew its holdings in Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after buying an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC grew its holdings in Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after buying an additional 76,896 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

ELV has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Guggenheim reaffirmed a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. 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 target price on shares of Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $498.87.

Elevance Health Trading Up 0.5%

NYSE ELV traded up $1.86 on Tuesday, hitting $348.74. 342,277 shares of the stock were exchanged, compared to its average volume of 1,608,102. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a fifty day moving average price of $386.32 and a two-hundred day moving average price of $398.50. The firm has a market capitalization of $78.79 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a 52-week low of $343.72 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.96%. 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.