Integrated Wealth Concepts LLC Raises Stake in Elevance Health, Inc. (NYSE:ELV)

Integrated Wealth Concepts LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 7.7% in 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 4,045 shares of the company’s stock after buying an additional 289 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Elevance Health were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Burling Wealth Partners LLC purchased a new stake in Elevance Health in the fourth quarter worth approximately $2,782,000. D1 Capital Partners L.P. bought a new stake in Elevance Health in the fourth quarter valued at approximately $294,751,000. Syon Capital LLC lifted its position in Elevance Health by 1.3% in the fourth quarter. Syon Capital LLC now owns 3,698 shares of the company’s stock valued at $1,364,000 after purchasing an additional 49 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Elevance Health by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock valued at $3,917,004,000 after purchasing an additional 464,137 shares during the last quarter. Finally, Alta Advisers Ltd lifted its position in Elevance Health by 28.5% in the fourth quarter. Alta Advisers Ltd now owns 771 shares of the company’s stock valued at $284,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of several recent research reports. Robert W. Baird reiterated a “neutral” rating and issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Barclays boosted their price objective on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Argus set a $465.00 price objective on Elevance Health in a research report on Friday. Baird R W downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Truist Financial upped their target price on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.38.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This represents a 19.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

ELV opened at $413.41 on Tuesday. The stock has a fifty day simple moving average of $420.43 and a two-hundred day simple moving average of $406.68. 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 company has a market cap of $93.40 billion, a price-to-earnings ratio of 16.14, 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.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.65%. Elevance Health’s dividend payout ratio is currently 26.69%.

Elevance Health 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.