AJOVista LLC Purchases New Position in Elevance Health, Inc. (NYSE:ELV)

AJOVista LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 231 shares of the company’s stock, valued at approximately $109,000.

Other hedge funds have also recently added to or reduced their stakes in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in Elevance Health by 34.3% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 466 shares of the company’s stock worth $203,000 after acquiring an additional 119 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Elevance Health by 7.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 15,445 shares of the company’s stock valued at $6,725,000 after buying an additional 1,132 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in Elevance Health during the 3rd quarter worth approximately $98,000. Hikari Power Ltd bought a new stake in Elevance Health during the 3rd quarter worth approximately $222,000. Finally, IFM Investors Pty Ltd increased its position in Elevance Health by 3.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 49,915 shares of the company’s stock valued at $21,734,000 after acquiring an additional 1,556 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.3 %

ELV stock traded up $1.35 during trading on Friday, reaching $526.96. 819,445 shares of the stock were exchanged, compared to its average volume of 1,136,492. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The firm’s 50 day moving average is $513.54 and its 200 day moving average is $488.91. The firm has a market cap of $122.48 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) 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 analysts’ expectations of $42.49 billion. During the same period last year, the business earned $9.46 EPS. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Transactions at Elevance Health

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. UBS Group boosted their price target 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. Jefferies Financial Group increased their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen 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 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.