Inceptionr LLC Makes New $897,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Inceptionr LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,902 shares of the company's stock, valued at approximately $897,000. Elevance Health comprises about 0.6% of Inceptionr LLC's portfolio, making the stock its biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new position in Elevance Health in the 4th quarter worth approximately $467,141,000. Canoe Financial LP increased its holdings in shares of Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company's stock valued at $398,054,000 after purchasing an additional 517,116 shares during the last quarter. International Assets Investment Management LLC lifted its position in Elevance Health by 45,888.1% during the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company's stock worth $1,205,750,000 after buying an additional 255,138 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company's stock worth $159,726,000 after buying an additional 249,533 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Elevance Health by 57.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company's stock valued at $279,063,000 after buying an additional 234,439 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 31,460 shares of the company's stock, valued at $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ELV. Cantor Fitzgerald reiterated an "overweight" rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Royal Bank of Canada increased their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an "outperform" rating in a research note on Friday, April 19th. Wells Fargo & Company raised their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. Barclays upped their price objective on 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 cut Elevance Health from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $587.42.

Elevance Health Trading Down 0.8 %

Shares of NYSE ELV traded down $4.14 during trading on Tuesday, reaching $534.63. The stock had a trading volume of 619,422 shares, compared to its average volume of 1,030,669. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $124.26 billion, a P/E ratio of 20.19, a PEG ratio of 1.19 and a beta of 0.79. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $543.13. The business's 50-day moving average price is $517.40 and its 200-day moving average price is $492.69.

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

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Elevance Health's dividend payout ratio (DPR) is presently 24.64%.

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.

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