Steigerwald Gordon & Koch Inc. Boosts Stake in Elevance Health, Inc. (NYSE:ELV)

Steigerwald Gordon & Koch Inc. lifted its stake in Elevance Health, Inc. (NYSE:ELVFree Report) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,629 shares of the company’s stock after purchasing an additional 209 shares during the quarter. Elevance Health comprises approximately 2.7% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its 11th largest position. Steigerwald Gordon & Koch Inc.’s holdings in Elevance Health were worth $19,630,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ELV. Roundview Capital LLC boosted its position in shares of Elevance Health by 2.9% in the 1st quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after purchasing an additional 52 shares in the last quarter. Moors & Cabot Inc. bought a new position in Elevance Health in the 1st quarter valued at approximately $251,000. Baird Financial Group Inc. lifted its position in Elevance Health by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock valued at $7,305,000 after acquiring an additional 57 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of Elevance Health by 52.1% during the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after buying an additional 306 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Elevance Health by 102.9% during the 1st quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after buying an additional 429 shares during the period. 87.80% of the stock is owned by institutional investors.

Elevance Health Stock Down 0.7 %

Shares of NYSE ELV opened at $510.36 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $118.76 billion, a P/E ratio of 20.28, a PEG ratio of 1.15 and a beta of 0.78. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $519.37. The firm has a 50-day simple moving average of $498.68 and a two-hundred day simple moving average of $474.55.

Elevance Health (NYSE:ELVGet Free Report) last issued its earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The business had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $5.23 earnings per share. Research analysts anticipate that Elevance Health, Inc. will post 37.15 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.28%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Insider Activity at Elevance Health

In related news, 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 transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ELV shares. Cantor Fitzgerald increased their price target on Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Royal Bank of Canada increased their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Barclays started coverage on Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $569.36.

Read Our Latest Stock Report on Elevance Health

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.

Further Reading

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

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