Evergreen Wealth Management LLC Boosts Stock Position in Elevance Health, Inc. (NYSE:ELV)

Evergreen Wealth Management LLC raised its stake in Elevance Health, Inc. (NYSE:ELV) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,935 shares of the company’s stock after purchasing an additional 102 shares during the quarter. Elevance Health accounts for 1.4% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 28th biggest holding. Evergreen Wealth Management LLC’s holdings in Elevance Health were worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Alliance Wealth Advisors LLC raised its holdings in Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after purchasing an additional 21 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Elevance Health by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after buying an additional 22 shares during the period. Financial Counselors Inc. boosted its stake in shares of Elevance Health by 1.0% in the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after buying an additional 22 shares in the last quarter. Sugarloaf Wealth Management LLC grew its holdings in Elevance Health by 8.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after acquiring an additional 22 shares during the period. Finally, Capital Investment Advisors LLC grew its holdings in Elevance Health by 2.5% during the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELV. Jefferies Financial Group boosted their target price 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. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Wells Fargo & Company upped their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Truist Financial reiterated a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, Mizuho upped their price target on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Insider Activity

In other 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 transaction of $376,500.00. Following 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 legal filing with the SEC, which is available at this hyperlink. In other 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 directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

ELV stock traded up $1.35 on Friday, reaching $526.96. The company had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. The company’s fifty day moving average is $513.54 and its 200 day moving average is $489.21. The company has a market cap of $122.48 billion, a P/E ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07.

Elevance Health (NYSE:ELV) last released 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. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.46 earnings per share. On average, research analysts forecast 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. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.24%. Elevance Health’s payout ratio is currently 24.64%.

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.