Guardian Partners Inc. Makes New $2.31 Million Investment in Elevance Health, Inc. (NYSE:ELV)

Guardian Partners Inc. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,016 shares of the company’s stock, valued at approximately $2,306,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Raelipskie Partnership purchased a new position in Elevance Health during the 3rd quarter worth approximately $26,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new position in Elevance Health during the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. purchased a new position in Elevance Health during the 4th quarter worth approximately $30,000. Finally, Crews Bank & Trust purchased a new position in Elevance Health during the 4th quarter worth approximately $34,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 1.6 %

Elevance Health stock opened at $427.27 on Friday. The company has a market capitalization of $97.14 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86. The company’s fifty day moving average price is $400.52 and its two-hundred day moving average price is $425.32. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued 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 forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given 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 dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the 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 sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Monday, March 17th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Truist Financial lowered their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.