Crux Wealth Advisors Buys Shares of 1,893 Elevance Health, Inc. (NYSE:ELV)

Crux Wealth Advisors purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,893 shares of the company’s stock, valued at approximately $698,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $26,000. WealthTrak Capital Management LLC bought a new stake in Elevance Health in the fourth quarter valued at $29,000. Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health during the fourth quarter valued at $30,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the fourth quarter worth about $29,000. Finally, Crews Bank & Trust bought a new stake in Elevance Health in the 4th quarter valued at about $34,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Guggenheim assumed coverage on shares of Elevance Health in a research note on Wednesday. They set a “buy” rating and a $518.00 price objective for the company. Barclays raised their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Mizuho boosted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $521.47.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $439.80 on Friday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm has a fifty day simple moving average of $412.93 and a 200-day simple moving average of $413.32. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $99.56 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last released its quarterly 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%. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.56%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

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.