Dohj LLC Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Dohj LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,073 shares of the company’s stock, valued at approximately $506,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alliance Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 21 shares during the period. Clearstead Advisors LLC grew its stake in shares of 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 purchasing an additional 22 shares during the period. Financial Counselors Inc. grew its stake in shares of 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 purchasing an additional 22 shares during the period. Sugarloaf Wealth Management LLC grew its stake in Elevance Health by 8.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after acquiring an additional 22 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its stake in Elevance Health by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after acquiring an additional 22 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.4 %

Shares of Elevance Health stock traded down $2.42 during mid-day trading on Friday, hitting $537.26. 700,726 shares of the stock were exchanged, compared to its average volume of 1,135,198. The stock has a market capitalization of $124.87 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $511.89 and a 200 day simple moving average of $486.40.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion for 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%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $9.46 EPS. Research analysts forecast that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. Elevance Health’s payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were 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 owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ELV. Wells Fargo & Company increased their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Truist Financial reissued a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Mizuho increased their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays increased their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

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.