Unique Wealth Strategies LLC Takes $2.42 Million Position in Elevance Health, Inc. (NYSE:ELV)

Unique Wealth Strategies LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,129 shares of the company’s stock, valued at approximately $2,419,000. Elevance Health comprises approximately 1.6% of Unique Wealth Strategies LLC’s portfolio, making the stock its 15th largest holding.

A number of other large investors also recently modified their holdings of ELV. OFI Invest Asset Management bought a new position in Elevance Health during the 3rd quarter worth $25,000. Alaska Permanent Fund Corp bought a new position in Elevance Health during the 4th quarter worth $31,000. ORG Partners LLC acquired a new stake in Elevance Health during the 4th quarter worth about $40,000. Orion Capital Management LLC acquired a new stake in Elevance Health during the 3rd quarter worth about $46,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth about $51,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group increased their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Mizuho increased their price target on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial restated a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company raised their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $2.42 during mid-day trading on Friday, hitting $537.26. 700,726 shares of the stock were exchanged, compared to its average volume of 1,135,198. 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 capitalization of $124.87 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 0.78. The company has a 50-day simple moving average of $511.89 and a 200 day simple moving average of $486.40. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.46 EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 37.24 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. Investors of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is 24.64%.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

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.