Greatmark Investment Partners Inc. Buys 1,416 Shares of Elevance Health, Inc. (NYSE:ELV)

Greatmark Investment Partners Inc. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,490 shares of the company's stock after purchasing an additional 1,416 shares during the period. Elevance Health comprises 1.4% of Greatmark Investment Partners Inc.'s holdings, making the stock its 26th largest holding. Greatmark Investment Partners Inc.'s holdings in Elevance Health were worth $8,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. abrdn plc lifted its stake in Elevance Health by 86.8% in the 4th quarter. abrdn plc now owns 278,397 shares of the company's stock valued at $131,281,000 after purchasing an additional 129,364 shares during the last quarter. Cerity Partners LLC lifted its stake in Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company's stock valued at $24,663,000 after purchasing an additional 9,199 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Elevance Health in the 4th quarter valued at approximately $218,000. Chicago Capital LLC lifted its stake in Elevance Health by 244.2% in the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company's stock valued at $3,314,000 after purchasing an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Elevance Health in the 4th quarter valued at approximately $2,235,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ELV shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Barclays lifted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. StockNews.com cut shares of Elevance Health from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 25th. Jefferies Financial Group raised their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a "buy" rating in a report on Friday, April 19th. Finally, Truist Financial restated a "buy" rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $587.42.

Elevance Health Stock Down 0.6 %

Shares of NYSE ELV traded down $3.37 during mid-day trading on Monday, reaching $533.89. 644,157 shares of the company's stock traded hands, compared to its average volume of 1,054,839. The stock has a market cap of $124.09 billion, a P/E ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78. The business has a 50-day simple moving average of $511.89 and a 200 day simple moving average of $486.85. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analysts' expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business's revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $9.46 earnings per share. On average, analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health's payout ratio is currently 24.64%.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares of the company's stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company's stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Company 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.