Waterloo Capital L.P. Invests $217,000 in Elevance Health, Inc. (NYSE:ELV)

Waterloo Capital L.P. bought a new position in shares of Elevance Health, Inc. (NYSE:ELVFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 460 shares of the company’s stock, valued at approximately $217,000.

A number of other large investors have also modified their holdings of the business. Schroder Investment Management Group raised its stake in shares of Elevance Health by 12.2% during the 4th quarter. Schroder Investment Management Group now owns 1,493,398 shares of the company’s stock worth $704,227,000 after buying an additional 162,515 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in shares of Elevance Health by 15.7% in the 4th quarter. Vinva Investment Management Ltd now owns 8,103 shares of the company’s stock worth $3,798,000 after acquiring an additional 1,099 shares during the period. Unison Asset Management LLC grew its holdings in shares of Elevance Health by 17.5% in the 4th quarter. Unison Asset Management LLC now owns 24,095 shares of the company’s stock worth $11,362,000 after acquiring an additional 3,593 shares during the period. Morningstar Investment Services LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $239,244,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Elevance Health by 4.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 481,318 shares of the company’s stock worth $226,970,000 after acquiring an additional 18,740 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.2 %

Shares of Elevance Health stock opened at $536.25 on Tuesday. 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 market cap of $124.64 billion, a PE ratio of 20.27, a P/E/G ratio of 1.19 and a beta of 0.83. The business’s fifty day moving average is $526.91 and its two-hundred day moving average is $503.48. 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 (NYSE:ELVGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the prior year, the company posted $9.46 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

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 given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Barclays increased their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $601.64.

Get Our Latest Analysis on ELV

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

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

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

Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.