CreativeOne Wealth LLC Grows Position in Elevance Health, Inc. (NYSE:ELV)

CreativeOne Wealth LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 14.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,249 shares of the company’s stock after acquiring an additional 157 shares during the quarter. CreativeOne Wealth LLC’s holdings in Elevance Health were worth $461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SageView Advisory Group LLC increased its holdings in Elevance Health by 17.8% in the fourth quarter. SageView Advisory Group LLC now owns 669 shares of the company’s stock valued at $247,000 after buying an additional 101 shares during the last quarter. Keystone Financial Group lifted its stake in Elevance Health by 22.6% during the fourth quarter. Keystone Financial Group now owns 1,679 shares of the company’s stock worth $625,000 after purchasing an additional 309 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in Elevance Health by 60.2% in the fourth quarter. Savvy Advisors Inc. now owns 1,187 shares of the company’s stock valued at $438,000 after purchasing an additional 446 shares in the last quarter. Sanders Capital LLC raised its holdings in Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock worth $1,728,722,000 after purchasing an additional 76,896 shares in the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $258,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ELV shares. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Guggenheim began coverage on shares of Elevance Health in a report on Wednesday, April 9th. They issued a “buy” rating and a $518.00 target price on the stock. Finally, Barclays increased their price target 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. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $508.81.

Elevance Health Price Performance

Shares of NYSE ELV opened at $424.44 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. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a market capitalization of $96.09 billion, a P/E ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77. The company’s fifty day moving average is $416.77 and its two-hundred day moving average is $410.42.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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%. Analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.61%. Elevance Health’s 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.