Commonwealth Equity Services LLC Raises Stake in Elevance Health, Inc. (NYSE:ELV)

Commonwealth Equity Services LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,262 shares of the company’s stock after purchasing an additional 4,362 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Elevance Health were worth $26,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $25,000. Alaska Permanent Fund Corp purchased a new position in Elevance Health in the 4th quarter valued at $31,000. Hexagon Capital Partners LLC increased its stake in shares of Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after acquiring 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, Orion Capital Management LLC acquired a new position in Elevance Health during the third quarter worth $46,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

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

Elevance Health Trading Up 0.3 %

ELV stock opened at $526.96 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The company has a market cap of $122.48 billion, a P/E ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79. The business has a fifty day moving average of $513.54 and a 200-day moving average of $489.21.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the firm earned $9.46 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

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

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group raised 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. Finally, Barclays lifted their price target on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $587.42.

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.