891 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Power Wealth Management LLC

Power Wealth Management LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, Holdings Channel reports. The firm bought 891 shares of the company’s stock, valued at approximately $420,000.

A number of other institutional investors also recently added to or reduced their stakes in ELV. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the third quarter valued at about $25,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health during the 4th quarter worth about $31,000. Hexagon Capital Partners LLC raised its position in shares of Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after buying an additional 29 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $40,000. Finally, Orion Capital Management LLC acquired a new position in shares of Elevance Health during the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ELV. Truist Financial restated a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Jefferies Financial Group upped their price objective on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Royal Bank of Canada upped their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, UBS Group raised their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Trading Up 0.3 %

Shares of ELV traded up $1.35 during midday trading on Friday, hitting $526.96. The stock had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The business has a 50-day simple moving average of $513.54 and a two-hundred day simple moving average of $488.91. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $122.48 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the business posted $9.46 EPS. The company’s revenue was up .9% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

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.