High Ground Investment Management LLP Grows Stock Position in Elevance Health, Inc. (NYSE:ELV)

High Ground Investment Management LLP raised its stake in Elevance Health, Inc. (NYSE:ELV) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,370 shares of the company’s stock after buying an additional 500 shares during the period. Elevance Health comprises about 14.7% of High Ground Investment Management LLP’s portfolio, making the stock its 2nd biggest position. High Ground Investment Management LLP’s holdings in Elevance Health were worth $29,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ELV. OFI Invest Asset Management acquired a new position in Elevance Health during the 3rd quarter worth approximately $25,000. Alaska Permanent Fund Corp acquired a new position in Elevance Health during the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC raised its stake in Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after buying an additional 29 shares during the period. ORG Partners LLC acquired a new position in Elevance Health during the 4th quarter worth approximately $40,000. Finally, Private Wealth Management Group LLC acquired a new position in Elevance Health during the 4th quarter worth approximately $41,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ELV shares. Wells Fargo & Company upped their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Jefferies Financial Group increased their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Royal Bank of Canada increased their price objective on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. UBS Group increased their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $587.42.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction 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 in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction 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 sale, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV traded up $0.77 on Thursday, hitting $525.61. 1,245,152 shares of the stock traded hands, compared to its average volume of 1,055,526. The business’s fifty day moving average is $513.01 and its two-hundred day moving average is $488.20. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The firm has a market capitalization of $122.16 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share 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 during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the prior year, the company earned $9.46 earnings per share. Elevance Health’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.