Crux Wealth Advisors Acquires New Position in Elevance Health, Inc. (NYSE:ELV)

Crux Wealth Advisors purchased a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,893 shares of the company's stock, valued at approximately $698,000.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. TD Private Client Wealth LLC raised its holdings in Elevance Health by 4.5% during the third quarter. TD Private Client Wealth LLC now owns 2,994 shares of the company's stock valued at $1,557,000 after buying an additional 129 shares in the last quarter. Virtu Financial LLC bought a new stake in Elevance Health during the third quarter worth approximately $2,828,000. Te Ahumairangi Investment Management Ltd raised its position in shares of Elevance Health by 39.6% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company's stock valued at $5,433,000 after purchasing an additional 2,983 shares during the period. Tudor Financial Inc. bought a new stake in shares of Elevance Health during the 3rd quarter worth $235,000. Finally, Anchor Investment Management LLC raised its holdings in Elevance Health by 22.9% in the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company's stock worth $3,171,000 after acquiring an additional 1,135 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Robert W. Baird reiterated 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. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $514.41.

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Elevance Health Stock Down 0.8 %

Shares of NYSE ELV traded down $3.34 during mid-day trading on Tuesday, reaching $437.83. 1,076,264 shares of the company's stock were exchanged, compared to its average volume of 1,441,289. The business has a fifty day simple moving average of $413.71 and a 200 day simple moving average of $411.99. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $99.12 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. The ex-dividend date was Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.56%. Elevance Health's dividend payout ratio (DPR) is 26.71%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on 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 approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the 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 transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

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.