Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,262 shares of the company’s stock after buying an additional 4,362 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Elevance Health were worth $26,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BluePath Capital Management LLC bought a new position in shares of Elevance Health during the third quarter valued at approximately $98,000. IFM Investors Pty Ltd boosted its holdings in shares of Elevance Health by 3.2% during the third 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. Washington Capital Management Inc. bought a new position in shares of Elevance Health during the third quarter worth about $272,000. Chicago Partners Investment Group LLC bought a new stake in Elevance Health in the 3rd quarter valued at about $220,000. Finally, Advisor Partners II LLC boosted its stake in Elevance Health by 3.7% during the 3rd quarter. Advisor Partners II LLC now owns 12,716 shares of the company’s stock valued at $5,537,000 after purchasing an additional 455 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ELV. UBS Group lifted their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Truist Financial reissued a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Jefferies Financial Group upped their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” 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 note on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the business’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 transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

ELV stock opened at $526.96 on Monday. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07. The firm has a 50-day moving average of $513.54 and a two-hundred day moving average of $489.21. The firm has a market capitalization of $122.48 billion, a PE ratio of 19.92, a P/E/G ratio of 1.16 and a beta of 0.79. 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 (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the firm earned $9.46 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio is 24.64%.

Elevance Health Company Profile

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.