Naviter Wealth LLC Acquires 390 Shares of Elevance Health, Inc. (NYSE:ELV)

Naviter Wealth LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,808 shares of the company’s stock after purchasing an additional 390 shares during the quarter. Naviter Wealth LLC’s holdings in Elevance Health were worth $853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Elevance Health by 45,888.1% during the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after acquiring an additional 255,138 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Elevance Health by 212.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock valued at $159,726,000 after purchasing an additional 249,533 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock worth $279,063,000 after buying an additional 234,439 shares during the period. Schroder Investment Management Group raised its stake in Elevance Health by 18.2% during the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock worth $579,493,000 after buying an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Elevance Health by 59.3% in the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock valued at $214,011,000 after buying an additional 182,889 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Price Performance

ELV opened at $533.98 on Tuesday. The stock has a market capitalization of $124.11 billion, a P/E ratio of 20.18, a PEG ratio of 1.19 and a beta of 0.78. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The stock has a 50-day moving average price of $512.32 and a 200-day moving average price of $487.42.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm earned $9.46 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Truist Financial restated a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group increased their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

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.