Benjamin F. Edwards & Company Inc. Has $22.50 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Benjamin F. Edwards & Company Inc. boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4,257.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,714 shares of the company’s stock after buying an additional 46,619 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Elevance Health were worth $22,500,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ELV. Accretive Wealth Partners LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $209,000. SRS Capital Advisors Inc. boosted its stake in shares of Elevance Health by 42.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the company’s stock valued at $509,000 after purchasing an additional 322 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Elevance Health by 105.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 172,810 shares of the company’s stock valued at $81,490,000 after buying an additional 88,546 shares during the last quarter. Natixis Advisors L.P. raised its holdings in Elevance Health by 12.5% in the 4th quarter. Natixis Advisors L.P. now owns 160,723 shares of the company’s stock valued at $75,790,000 after buying an additional 17,799 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Elevance Health by 8.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 55,262 shares of the company’s stock valued at $26,060,000 after buying an additional 4,362 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ELV shares. Mizuho raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. UBS Group raised their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company raised their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Barclays raised their price target on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group raised their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Stock Up 0.1 %

ELV traded up $0.77 during trading on Thursday, reaching $525.61. The stock had a trading volume of 1,245,167 shares, compared to its average volume of 1,054,936. The stock’s 50 day moving average is $513.01 and its two-hundred day moving average is $488.20. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $122.16 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 1.17 and a beta of 0.78. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07.

Elevance Health (NYSE:ELV) last released its 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. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm 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 firm posted $9.46 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

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 given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Activity at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated 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 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 link. 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 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 approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

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.