Elevance Health, Inc. (NYSE:ELV) Shares Bought by SageView Advisory Group LLC

SageView Advisory Group LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 17.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 669 shares of the company’s stock after acquiring an additional 101 shares during the quarter. SageView Advisory Group LLC’s holdings in Elevance Health were worth $247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tobam boosted its stake in shares of Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after buying an additional 27 shares during the period. Jacobi Capital Management LLC grew its stake in shares of Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares during the last quarter. Austin Private Wealth LLC raised its stake in shares of Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after purchasing an additional 29 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after purchasing an additional 30 shares during the period. Finally, RDA Financial Network increased its stake in Elevance Health by 0.5% in the 4th quarter. RDA Financial Network now owns 6,384 shares of the company’s stock valued at $2,355,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ELV. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Truist Financial boosted their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Mizuho boosted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $514.41.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $437.83 on Wednesday. The business has a fifty day simple moving average of $414.67 and a 200-day simple moving average of $412.17. 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. The company has a market cap of $99.12 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.18 and a beta of 0.77.

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

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.56%. Elevance Health’s dividend payout ratio is currently 26.71%.

Elevance Health 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.