Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,172 shares of the company’s stock after acquiring an additional 42 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Elevance Health were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alliance Wealth Advisors LLC increased its stake in Elevance Health by 2.9% during the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after buying an additional 21 shares during the period. Clearstead Advisors LLC increased its stake in Elevance Health by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after buying an additional 22 shares during the period. Financial Counselors Inc. increased its stake in Elevance Health by 1.0% during the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after buying an additional 22 shares during the period. Sugarloaf Wealth Management LLC increased its stake in Elevance Health by 8.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after buying an additional 22 shares during the period. Finally, Capital Investment Advisors LLC increased its stake in Elevance Health by 2.5% during the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds 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 business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $547.74 on Thursday. 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 fifty-two week low of $412.00 and a fifty-two week high of $550.34. The firm has a 50-day simple moving average of $522.84 and a 200 day simple moving average of $497.04. The company has a market cap of $127.31 billion, a PE ratio of 20.70, a P/E/G ratio of 1.20 and a beta of 0.79.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during 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%. Elevance Health’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $9.46 EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ELV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Truist Financial reissued a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Barclays boosted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Mizuho boosted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, UBS Group boosted their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.