Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Aviso Wealth Management

Aviso Wealth Management grew its position in Elevance Health, Inc. (NYSE:ELV) by 55.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 720 shares of the company’s stock after buying an additional 258 shares during the quarter. Aviso Wealth Management’s holdings in Elevance Health were worth $266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the fourth quarter worth $29,000. Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health in the fourth quarter valued at $30,000. Finally, Crews Bank & Trust acquired a new stake in shares of Elevance Health during the fourth quarter valued at $34,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Trading Down 1.0 %

Shares of NYSE ELV opened at $423.03 on Wednesday. The stock has a market capitalization of $96.18 billion, a P/E ratio of 16.52, a PEG ratio of 1.18 and a beta of 0.86. The stock’s 50 day moving average price is $401.73 and its two-hundred day moving average price is $422.80. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ELV. Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a report on Monday, March 17th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

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.