Elevance Health, Inc. (NYSE:ELV) Shares Bought by Texas Yale Capital Corp.

Texas Yale Capital Corp. raised its position in Elevance Health, Inc. (NYSE:ELV) by 9.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,175 shares of the company’s stock after purchasing an additional 105 shares during the period. Texas Yale Capital Corp.’s holdings in Elevance Health were worth $433,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ELV. EP Wealth Advisors LLC grew its holdings in Elevance Health by 8.5% in the third quarter. EP Wealth Advisors LLC now owns 2,042 shares of the company’s stock valued at $1,062,000 after purchasing an additional 160 shares during the last quarter. Zacks Investment Management acquired a new stake in Elevance Health in the 3rd quarter worth about $511,000. Continuum Advisory LLC boosted its stake in Elevance Health by 17.3% in the 3rd quarter. Continuum Advisory LLC now owns 700 shares of the company’s stock worth $364,000 after buying an additional 103 shares during the last quarter. Brophy Wealth Management LLC acquired a new stake in Elevance Health in the 3rd quarter worth about $200,000. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Elevance Health by 13.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,186 shares of the company’s stock valued at $2,132,000 after purchasing an additional 490 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Up 1.2 %

Shares of Elevance Health stock opened at $436.01 on Thursday. The firm has a market capitalization of $98.71 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $411.57 and its 200-day moving average is $414.52.

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

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Guggenheim initiated coverage on Elevance Health in a report on Wednesday. They set a “buy” rating and a $518.00 target price on the stock. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Truist Financial reduced their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $519.71.

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.