Xponance Inc. Purchases 2,476 Shares of Elevance Health, Inc. (NYSE:ELV)

Xponance Inc. increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,886 shares of the company’s stock after buying an additional 2,476 shares during the period. Xponance Inc.’s holdings in Elevance Health were worth $17,866,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fortis Capital Advisors LLC bought a new stake in Elevance Health in the fourth quarter valued at $29,000. TD Capital Management LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at about $30,000. OFI Invest Asset Management purchased a new position in Elevance Health during the third quarter worth about $25,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Elevance Health during the third quarter worth about $30,000. Finally, ORG Partners LLC purchased a new position in Elevance Health during the fourth quarter worth about $40,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 3.2 %

ELV traded up $16.22 during trading on Thursday, hitting $525.19. 2,584,731 shares of the stock traded hands, compared to its average volume of 1,053,739. The firm has a market capitalization of $122.21 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78. 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 firm has a 50-day moving average of $508.17 and a 200 day moving average of $482.29. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping the consensus estimate of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same period in the prior year, the business earned $5.23 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $1.63 dividend. The ex-dividend date was Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.24%. Elevance Health’s dividend payout ratio is 25.90%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several analyst reports. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Barclays initiated coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $569.00.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

About Elevance Health

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.