2,402 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,402 shares of the company’s stock, valued at approximately $1,133,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Bison Wealth LLC lifted its position in Elevance Health by 7.0% in the second quarter. Bison Wealth LLC now owns 6,250 shares of the company’s stock valued at $2,777,000 after purchasing an additional 410 shares during the period. Catalyst Financial Partners LLC lifted its position in Elevance Health by 12.4% in the third quarter. Catalyst Financial Partners LLC now owns 662 shares of the company’s stock valued at $288,000 after purchasing an additional 73 shares during the period. Nordea Investment Management AB lifted its position in Elevance Health by 0.5% in the fourth quarter. Nordea Investment Management AB now owns 1,632,123 shares of the company’s stock valued at $768,387,000 after purchasing an additional 8,314 shares during the period. Prana Capital Management LP acquired a new stake in Elevance Health in the second quarter valued at about $21,305,000. Finally, SG Americas Securities LLC lifted its position in Elevance Health by 33.1% in the fourth quarter. SG Americas Securities LLC now owns 8,935 shares of the company’s stock valued at $4,213,000 after purchasing an additional 2,220 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV traded up $2.66 during mid-day trading on Wednesday, reaching $519.90. 685,888 shares of the company’s stock were exchanged, compared to its average volume of 1,026,225. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $500.26 and a two-hundred day simple moving average of $475.45. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $521.18. The company has a market cap of $120.98 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.14 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping the consensus estimate of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. Elevance Health’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.23 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.15 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $1.63 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s payout ratio is presently 25.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ELV shares. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays initiated coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target for the company. Royal Bank of Canada lifted their price target on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald lifted their price target on shares of Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $569.36.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by corporate insiders.

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.