Elevance Health, Inc. (NYSE:ELV) Shares Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,823 shares of the company's stock after acquiring an additional 795 shares during the period. OneDigital Investment Advisors LLC's holdings in Elevance Health were worth $2,886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Flagship Wealth Advisors LLC acquired a new position in Elevance Health during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new position in shares of Elevance Health in the 4th quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at $29,000. Lee Danner & Bass Inc. purchased a new stake in Elevance Health during the 4th quarter worth $30,000. Finally, Crews Bank & Trust acquired a new stake in Elevance Health in the 4th quarter valued at $34,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 0.4 %

NYSE ELV traded down $1.87 on Monday, hitting $419.81. 308,648 shares of the stock traded hands, compared to its average volume of 1,455,650. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average of $420.00 and a 200 day moving average of $407.30. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a market capitalization of $94.85 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) 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 analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, analysts expect that Elevance Health, Inc. will post 33.96 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 Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.63%. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 over the last quarter. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ELV. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Guggenheim reiterated a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $509.44.

Elevance Health 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.