Brooklyn FI LLC Makes New $519,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Brooklyn FI LLC bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,408 shares of the company's stock, valued at approximately $519,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Xponance Inc. lifted its position in Elevance Health by 2.0% during the fourth quarter. Xponance Inc. now owns 42,945 shares of the company's stock valued at $15,842,000 after purchasing an additional 839 shares during the period. OPTIMAS CAPITAL Ltd bought a new position in shares of Elevance Health during the 4th quarter valued at $738,000. Intech Investment Management LLC grew its holdings in shares of Elevance Health by 42.7% in the fourth quarter. Intech Investment Management LLC now owns 38,617 shares of the company's stock worth $14,246,000 after acquiring an additional 11,547 shares during the period. Generali Asset Management SPA SGR purchased a new stake in Elevance Health during the fourth quarter valued at $11,077,000. Finally, Horizon Investments LLC lifted its holdings in Elevance Health by 1.0% in the fourth quarter. Horizon Investments LLC now owns 3,852 shares of the company's stock valued at $1,421,000 after acquiring an additional 40 shares during the period. Institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ELV. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target on the stock in a research note on Monday, March 17th. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Finally, Truist Financial lowered their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $519.81.

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Insider Buying and Selling at Elevance Health

In related news, 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 value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Elevance Health Price Performance

ELV traded up $0.43 during trading on Monday, reaching $427.62. 972,096 shares of the company traded hands, compared to its average volume of 1,319,389. The company has a market cap of $97.22 billion, a P/E ratio of 16.70, a PEG ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a fifty day simple moving average of $400.52 and a 200 day simple moving average of $424.46.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. Elevance Health's dividend payout ratio is presently 26.71%.

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.