Virtu Financial LLC Acquires 530 Shares of Elevance Health, Inc. (NYSE:ELV)

Virtu Financial LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,968 shares of the company’s stock after buying an additional 530 shares during the period. Virtu Financial LLC’s holdings in Elevance Health were worth $2,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership bought a new position in shares of Elevance Health in the 3rd quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the fourth quarter worth $30,000. Finally, Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter worth $34,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $427.27 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a 50-day moving average of $400.52 and a 200-day moving average of $425.32. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. 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.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. As a group, equities research 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 will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.60%. Elevance Health’s payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Monday, March 17th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. 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 firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % 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 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.