Beacon Financial Group Purchases Shares of 1,715 Elevance Health, Inc. (NYSE:ELV)

Beacon Financial Group acquired a new position in Elevance Health, Inc. (NYSE:ELVFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,715 shares of the company’s stock, valued at approximately $809,000.

A number of other large investors have also recently made changes to their positions in the business. abrdn plc increased its position in Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC lifted its holdings in Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares during the period. Canoe Financial LP boosted its position in Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after acquiring an additional 517,116 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $218,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Elevance Health by 114.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock worth $14,765,000 after acquiring an additional 16,737 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV traded down $3.94 during midday trading on Friday, hitting $534.81. 584,312 shares of the company traded hands, compared to its average volume of 1,073,649. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average is $529.50 and its 200 day moving average is $504.71. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The firm has a market capitalization of $124.30 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83.

Elevance Health (NYSE:ELVGet Free Report) last posted its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.46 EPS. On average, research analysts expect that Elevance Health, Inc. will post 37.2 EPS 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 given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Insider Buying and Selling

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred 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 directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ELV shares. Royal Bank of Canada upped their price target on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. UBS Group lifted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Truist Financial reissued a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Barclays boosted their price target on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $607.36.

Check Out Our Latest Research Report on Elevance Health

About Elevance Health

(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.

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

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