AJOVista LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

AJOVista LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 231 shares of the company’s stock, valued at approximately $109,000.

A number of other hedge funds have also made changes to their positions in the company. abrdn plc increased its holdings in shares of Elevance Health by 86.8% during the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after buying an additional 129,364 shares in the last quarter. Cerity Partners LLC raised its position in Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Elevance Health in the fourth quarter worth $218,000. Chicago Capital LLC grew its holdings in shares of Elevance Health by 244.2% during the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after purchasing an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Elevance Health in the fourth quarter valued at $2,235,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ELV shares. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Truist Financial reissued a “buy” rating and set a $600.00 price target (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 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Wells Fargo & Company increased their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Mizuho lifted their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’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 completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction 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 disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Trading Up 0.3 %

NYSE:ELV traded up $1.35 during mid-day trading on Friday, hitting $526.96. The company had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. 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, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The firm has a market cap of $122.48 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.16 and a beta of 0.79. The business’s fifty day moving average is $513.54 and its two-hundred day moving average is $488.91.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate 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 for the quarter was up .9% on a year-over-year basis. During the same period last year, the company posted $9.46 EPS. As a group, research analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.