Tidal Investments LLC Has $5.44 Million Position in Elevance Health, Inc. (NYSE:ELV)

Tidal Investments LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 40.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,757 shares of the company’s stock after purchasing an additional 4,272 shares during the quarter. Tidal Investments LLC’s holdings in Elevance Health were worth $5,444,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at $26,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other 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 value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 2.1%

Shares of NYSE:ELV opened at $412.49 on Wednesday. The firm has a market cap of $93.20 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.18 and a beta of 0.66. 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 12-month low of $357.45 and a 12-month high of $567.26. The business has a fifty day simple moving average of $422.19 and a 200 day simple moving average of $403.63.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio is currently 26.69%.

Analyst Ratings Changes

ELV has been the topic of a number of research analyst reports. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Mizuho increased their price target on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $510.38.

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.