Briaud Financial Planning Inc Invests $184,000 in Elevance Health, Inc. (NYSE:ELV)

Briaud Financial Planning Inc bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 501 shares of the company’s stock, valued at approximately $184,000. Elevance Health comprises 0.1% of Briaud Financial Planning Inc’s holdings, making the stock its 29th biggest position.

Several other hedge funds have also recently bought and sold shares of ELV. Pzena Investment Management LLC lifted its stake in Elevance Health by 0.8% during the fourth quarter. Pzena Investment Management LLC now owns 193,997 shares of the company’s stock worth $71,565,000 after purchasing an additional 1,629 shares during the period. Riverbend Wealth Management LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $223,000. Channing Capital Management LLC acquired a new stake in Elevance Health during the 4th quarter worth $9,082,000. Marathon Trading Investment Management LLC bought a new position in shares of Elevance Health during the fourth quarter worth $959,000. Finally, Meriwether Wealth & Planning LLC bought a new stake in Elevance Health in the 4th quarter valued at $592,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.0 %

Shares of ELV opened at $409.46 on Tuesday. The company’s fifty day moving average is $391.45 and its 200 day moving average is $432.42. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market capitalization of $93.09 billion, a PE ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

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

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $517.03.

Insiders Place Their Bets

In other news, 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 owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

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.