BNC Wealth Management LLC Makes New $1.92 Million Investment in Elevance Health Inc. (NYSE:ELV)

BNC Wealth Management LLC purchased a new stake in Elevance Health Inc. (NYSE:ELVGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,916 shares of the company’s stock, valued at approximately $1,924,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Elevance Health by 1.5% in the 4th quarter. State Street Corp now owns 10,732,795 shares of the company’s stock valued at $4,975,080,000 after buying an additional 162,857 shares during the period. Capital International Investors boosted its holdings in Elevance Health by 8.4% in the fourth quarter. Capital International Investors now owns 5,638,163 shares of the company’s stock valued at $2,613,667,000 after purchasing an additional 437,816 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Elevance Health by 14.7% in the fourth quarter. Baillie Gifford & Co. now owns 4,582,312 shares of the company’s stock valued at $2,124,085,000 after purchasing an additional 587,649 shares in the last quarter. Geode Capital Management LLC lifted its stake in Elevance Health by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,174,578 shares of the company’s stock valued at $1,929,914,000 after buying an additional 51,641 shares during the last quarter. Finally, Sanders Capital LLC raised its stake in shares of Elevance Health by 1.6% during the fourth quarter. Sanders Capital LLC now owns 4,042,601 shares of the company’s stock worth $2,074,078,000 after purchasing an additional 65,439 shares during the last quarter. 84.28% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Elevance Health from $453.00 to $574.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Cowen raised their target price on Elevance Health from $472.00 to $642.00 in a report on Thursday, April 21st. Wells Fargo & Company lowered their price objective on Elevance Health from $586.00 to $580.00 and set an “overweight” rating for the company in a research note on Wednesday, May 25th. Loop Capital initiated coverage on Elevance Health in a research report on Thursday, June 16th. They set a “buy” rating and a $550.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on Elevance Health from $540.00 to $625.00 and gave the company an “outperform” rating in a research note on Monday, April 25th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $550.05.

In other news, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of Elevance Health stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $488.60, for a total transaction of $3,091,860.80. Following the transaction, the executive vice president now owns 14,529 shares in the company, valued at approximately $7,098,869.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 420 shares of Elevance Health stock in a transaction on Monday, June 6th. The stock was sold at an average price of $497.14, for a total value of $208,798.80. Following the transaction, the director now owns 9,491 shares in the company, valued at approximately $4,718,355.74. The disclosure for this sale can be found here. Insiders sold a total of 7,738 shares of company stock worth $3,764,851 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Elevance Health stock traded down $1.34 during trading hours on Thursday, hitting $484.23. The stock had a trading volume of 14,866 shares, compared to its average volume of 1,204,541. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $116.74 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. Elevance Health Inc. has a 12-month low of $355.43 and a 12-month high of $533.68. The stock’s 50-day moving average price is $491.53 and its 200-day moving average price is $473.35.

Elevance Health (NYSE:ELVGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $8.25 earnings per share for the quarter, topping analysts’ consensus estimates of $7.81 by $0.44. Elevance Health had a net margin of 4.33% and a return on equity of 18.71%. The business had revenue of $38.10 billion during the quarter, compared to analyst estimates of $37.28 billion. During the same period in the prior year, the business posted $7.01 earnings per share. The company’s revenue was up 17.6% on a year-over-year basis. On average, research analysts expect that Elevance Health Inc. will post 28.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were issued a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a yield of 1.06%. This is a boost from Elevance Health’s previous quarterly dividend of $1.13. The ex-dividend date was Thursday, June 9th. Elevance Health’s dividend payout ratio is presently 20.16%.

Elevance Health Profile (Get Rating)

Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.

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

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