Park National Corp OH Acquires New Stake in Elevance Health, Inc. (NYSE:ELV)

Park National Corp OH bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 678 shares of the company's stock, valued at approximately $295,000.

A number of other large investors have also recently bought and sold shares of ELV. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the fourth quarter valued at $26,000. OFI Invest Asset Management purchased a new stake in Elevance Health in the fourth quarter valued at $29,000. WealthTrak Capital Management LLC purchased a new stake in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Elevance Health stock traded up $3.49 during midday trading on Friday, reaching $384.02. The company had a trading volume of 3,195,009 shares, compared to its average volume of 1,530,331. The company has a market capitalization of $86.76 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.18 and a beta of 0.66. The firm's fifty day simple moving average is $414.46 and its 200-day simple moving average is $401.48. 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.

Elevance Health (NYSE:ELV - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared 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. This represents a $6.84 annualized dividend and a dividend 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Baird R W lowered 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 issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Truist Financial increased their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Barclays increased their target price on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $502.33.

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.