Elevance Health, Inc. (NYSE:ELV) Shares Purchased by NorthRock Partners LLC

NorthRock Partners LLC raised its position in Elevance Health, Inc. (NYSE:ELV) by 121.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,067 shares of the company’s stock after buying an additional 1,132 shares during the quarter. NorthRock Partners LLC’s holdings in Elevance Health were worth $763,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ELV. Mutual Advisors LLC grew its stake in shares of Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after purchasing an additional 52 shares during the period. JB Capital LLC boosted its position in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after acquiring an additional 8,038 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock valued at $276,073,000 after purchasing an additional 326,543 shares during the period. Lawson Kroeker Investment Management Inc. NE grew its holdings in Elevance Health by 15.8% in the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company’s stock valued at $11,837,000 after buying an additional 4,372 shares during the period. Finally, VELA Investment Management LLC increased its position in Elevance Health by 101.6% during the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock worth $765,000 after purchasing an additional 1,045 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $389.42 on Friday. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a 50 day moving average price of $422.87 and a two-hundred day moving average price of $403.76. The company has a market capitalization of $87.98 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

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

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.69%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, 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. In the last three months, insiders have sold 8,535 shares of company stock worth $3,521,612. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ELV shares. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Argus set a $465.00 price target on shares of Elevance Health in a report on Friday, April 25th. Barclays increased their target price on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.38.

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.