Essex Savings Bank Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

Essex Savings Bank purchased a new position in Elevance Health, Inc. (NYSE:ELVFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 454 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors have also modified their holdings of the business. Alliance Wealth Advisors LLC lifted its holdings in shares of 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 during the period. ProVise Management Group LLC boosted its holdings in shares of Elevance Health by 0.6% in the second quarter. ProVise Management Group LLC now owns 3,856 shares of the company’s stock valued at $1,713,000 after acquiring an additional 22 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in shares of Elevance Health by 0.9% in the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after acquiring an additional 22 shares in the last quarter. Financial Counselors Inc. increased its stake in shares of Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after acquiring an additional 22 shares during the period. Finally, Capital Investment Advisors LLC raised 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 purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ELV shares. Cantor Fitzgerald lifted their price objective on Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Royal Bank of Canada lifted their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Barclays assumed coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $569.36.

View Our Latest Report on ELV

Elevance Health Price Performance

Elevance Health stock opened at $499.22 on Wednesday. The firm has a market capitalization of $116.17 billion, a PE ratio of 19.83, a P/E/G ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $521.18. The firm’s 50-day simple moving average is $504.08 and its 200 day simple moving average is $477.50. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating 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 company had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter in the prior year, the firm earned $5.23 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that Elevance Health, Inc. will post 37.15 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s payout ratio is 25.90%.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the 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 sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Elevance Health Company Profile

(Free Report)

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.

See Also

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

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