Elevance Health, Inc. (NYSE:ELV) Shares Bought by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. grew its position in Elevance Health, Inc. (NYSE:ELV) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 994 shares of the company’s stock after buying an additional 109 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Elevance Health were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Sanders Capital LLC increased its position in Elevance Health by 1.4% during the 3rd quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after purchasing an additional 58,013 shares in the last quarter. Baillie Gifford & Co. lifted its position in Elevance Health by 0.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after acquiring an additional 27,986 shares in the last quarter. Morgan Stanley lifted its position in Elevance Health by 1.7% during the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after acquiring an additional 46,322 shares in the last quarter. Northern Trust Corp raised its position in shares of Elevance Health by 2.4% in the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock valued at $1,052,175,000 after purchasing an additional 57,098 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of Elevance Health by 7.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock valued at $1,035,884,000 after purchasing an additional 160,524 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.1 %

NYSE:ELV opened at $532.92 on Wednesday. The firm has a market capitalization of $123.86 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $539.11. 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 business’s fifty day moving average price is $510.23 and its 200 day moving average price is $485.10.

Elevance Health (NYSE:ELV) last issued its earnings results 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. 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 analyst estimates of $42.49 billion. During the same period in the prior year, the firm posted $9.46 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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 given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Wells Fargo & Company boosted their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their price target on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group upped their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $587.64.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

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.