Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Lee Financial Co

Lee Financial Co increased its position in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 4,915.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,003 shares of the company’s stock after acquiring an additional 983 shares during the quarter. Lee Financial Co’s holdings in Elevance Health were worth $473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in Elevance Health in the third quarter worth approximately $25,000. Alaska Permanent Fund Corp acquired a new stake in Elevance Health during the 4th quarter worth about $31,000. Hexagon Capital Partners LLC lifted its stake in Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after buying an additional 29 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $40,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Elevance Health during the fourth quarter valued at approximately $41,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock traded up $3.82 during trading on Friday, reaching $547.71. The company’s stock had a trading volume of 897,567 shares, compared to its average volume of 924,119. The firm has a market cap of $127.30 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.20 and a beta of 0.79. The business’s fifty day moving average price is $520.57 and its 200-day moving average price is $494.72. 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 one year low of $412.00 and a one year high of $547.99.

Elevance Health (NYSE:ELVGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $9.46 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced 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 of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction 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 owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Jefferies Financial Group lifted their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. UBS Group boosted their price target 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. Finally, Mizuho boosted 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 research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Check Out Our Latest Stock Report on ELV

Elevance Health Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELVFree Report).

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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