Inspire Advisors LLC Makes New $716,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Inspire Advisors LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,940 shares of the company's stock, valued at approximately $716,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lifeworks Advisors LLC raised its holdings in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock worth $539,000 after purchasing an additional 25 shares during the last quarter. Dunhill Financial LLC increased its stake in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. Tobam increased its stake in shares of Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after acquiring an additional 27 shares during the last quarter. Jacobi Capital Management LLC increased its stake in shares of Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after acquiring an additional 27 shares during the last quarter. Finally, Austin Private Wealth LLC increased its stake in shares of Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after acquiring an additional 29 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents 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 insiders.

Elevance Health Trading Up 3.4 %

NYSE:ELV opened at $423.44 on Wednesday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month 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 business has a 50 day moving average price of $392.54 and a two-hundred day moving average price of $431.56. The company has a market cap of $96.27 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

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

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is presently 26.71%.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Saturday, March 1st. Finally, Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $517.03.

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.

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