Fulton Breakefield Broenniman LLC Buys 78 Shares of Elevance Health, Inc. (NYSE:ELV)

Fulton Breakefield Broenniman LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 10.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 796 shares of the company’s stock after buying an additional 78 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Elevance Health were worth $375,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in Elevance Health in the third quarter valued at about $25,000. Alaska Permanent Fund Corp acquired a new position in Elevance Health in the fourth quarter valued at about $31,000. ORG Partners LLC acquired a new position in Elevance Health during the fourth quarter worth about $40,000. Orion Capital Management LLC acquired a new position in Elevance Health during the third quarter worth about $46,000. Finally, Milestone Investment Advisors LLC acquired a new position in Elevance Health during the third quarter worth about $51,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.4 %

ELV stock traded down $2.42 during trading on Friday, hitting $537.26. The company had a trading volume of 700,726 shares, compared to its average volume of 1,135,198. The business has a 50-day moving average of $511.89 and a 200-day moving average of $486.40. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07. The stock has a market cap of $124.87 billion, a PE ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the prior year, the business posted $9.46 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was 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 in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ELV. UBS Group boosted their target price on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group boosted their target price on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Mizuho boosted their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada boosted their target price on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

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.