Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 24.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 989 shares of the company’s stock after purchasing an additional 192 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Elevance Health were worth $430,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Accredited Wealth Management LLC acquired a new position in Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health in the 4th quarter valued at approximately $26,000. Riverview Trust Co increased its holdings in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health during the fourth quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the fourth quarter worth approximately $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were 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 directly owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Elevance Health Trading Up 2.4%

NYSE:ELV opened at $393.70 on Friday. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week 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 has a fifty day simple moving average of $409.50 and a 200-day simple moving average of $400.82. The company has a market capitalization of $88.95 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its earnings results 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. The company had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.74%. Elevance Health’s dividend payout ratio is presently 26.69%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Robert W. Baird reissued a “neutral” rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Mizuho boosted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Truist Financial lifted their price objective on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and thirteen have given 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 $499.53.

Elevance Health Company 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.