Elevance Health, Inc. (NYSE:ELV) Stock Position Lifted by Locust Wood Capital Advisers LLC

Locust Wood Capital Advisers LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 61.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 286,069 shares of the company's stock after acquiring an additional 108,814 shares during the quarter. Elevance Health makes up about 5.1% of Locust Wood Capital Advisers LLC's investment portfolio, making the stock its 4th largest position. Locust Wood Capital Advisers LLC owned approximately 0.12% of Elevance Health worth $134,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the third quarter worth $25,000. Alaska Permanent Fund Corp bought a new stake in Elevance Health in the fourth quarter valued at about $31,000. Hexagon Capital Partners LLC increased its holdings in Elevance Health by 63.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company's stock valued at $35,000 after purchasing an additional 29 shares during the last quarter. ORG Partners LLC bought a new stake in Elevance Health in the fourth quarter valued at about $40,000. Finally, Orion Capital Management LLC bought a new stake in Elevance Health in the third quarter valued at about $46,000. Institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on Elevance Health from $602.00 to $604.00 and gave the company a "buy" rating in a research note on Friday, April 19th. UBS Group lifted their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a "buy" rating in a report on Friday, April 19th. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an "outperform" rating in a report on Friday, April 19th. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an "overweight" rating in a report on Friday, April 19th. Finally, StockNews.com downgraded shares of Elevance Health from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and an average target price of $587.42.

Elevance Health Trading Up 0.1 %

NYSE ELV traded up $0.42 on Friday, hitting $539.00. The company's stock had a trading volume of 841,374 shares, compared to its average volume of 1,034,491. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $543.13. The company's 50-day moving average is $515.92 and its 200 day moving average is $490.89. The firm has a market cap of $125.27 billion, a PE ratio of 20.41, a PEG ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to analysts' expectations of $42.49 billion. During the same period in the prior year, the company posted $9.46 earnings per share. Elevance Health's revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health's dividend payout ratio (DPR) is 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value 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 this link. Insiders own 0.29% of the company's stock.

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.