Commonwealth Equity Services LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 8.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,262 shares of the company's stock after purchasing an additional 4,362 shares during the period. Commonwealth Equity Services LLC's holdings in Elevance Health were worth $26,060,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in ELV. First Horizon Advisors Inc. grew its stake in shares of Elevance Health by 9.2% during the fourth quarter. First Horizon Advisors Inc. now owns 835 shares of the company's stock valued at $394,000 after buying an additional 70 shares during the last quarter. Fisher Asset Management LLC grew its position in Elevance Health by 22.2% during the 4th quarter. Fisher Asset Management LLC now owns 909 shares of the company's stock worth $429,000 after acquiring an additional 165 shares during the last quarter. LGT Fund Management Co Ltd. increased its stake in Elevance Health by 1.6% in the 4th quarter. LGT Fund Management Co Ltd. now owns 7,740 shares of the company's stock worth $3,628,000 after purchasing an additional 120 shares during the period. First Trust Direct Indexing L.P. lifted its position in Elevance Health by 32.1% in the fourth quarter. First Trust Direct Indexing L.P. now owns 7,722 shares of the company's stock valued at $3,641,000 after purchasing an additional 1,876 shares during the last quarter. Finally, Concord Wealth Partners boosted its stake in shares of Elevance Health by 152.3% during the fourth quarter. Concord Wealth Partners now owns 1,794 shares of the company's stock valued at $846,000 after purchasing an additional 1,083 shares during the period. Institutional investors own 89.24% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. Mizuho boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a "buy" rating in a research report on Wednesday, April 24th. Barclays increased their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. UBS Group boosted their price target on Elevance Health from $585.00 to $605.00 and gave the company a "buy" rating in a report on Friday, April 19th. Finally, Jefferies Financial Group increased their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a "buy" rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $587.42.
View Our Latest Stock Analysis on ELV
Elevance Health Stock Up 0.6 %
Shares of NYSE ELV traded up $2.97 during mid-day trading on Monday, hitting $529.93. 750,918 shares of the stock traded hands, compared to its average volume of 1,049,890. The company has a market cap of $123.17 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79. The stock has a fifty day moving average price of $513.54 and a 200-day moving average price of $489.21. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.
Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm posted $9.46 earnings per share. The company's revenue for the quarter was up .9% on a year-over-year basis. Research analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.
Elevance Health Dividend Announcement
The business also recently disclosed 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 yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 24.64%.
Insider Buying and Selling at Elevance Health
In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company's stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now 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 company insiders.
About Elevance Health
(
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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