InvesTrust Invests $649,000 in Elevance Health, Inc. (NYSE:ELV)

InvesTrust bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,759 shares of the company's stock, valued at approximately $649,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. First County Bank CT acquired a new position in shares of Elevance Health in the fourth quarter worth approximately $290,000. Diversified Trust Co raised its holdings in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company's stock worth $8,328,000 after purchasing an additional 2,725 shares during the last quarter. Fortem Financial Group LLC lifted its position in shares of Elevance Health by 1.9% in the 4th quarter. Fortem Financial Group LLC now owns 2,355 shares of the company's stock worth $869,000 after purchasing an additional 44 shares during the period. Pensionfund Sabic increased its position in shares of Elevance Health by 59.0% during the fourth quarter. Pensionfund Sabic now owns 4,850 shares of the company's stock worth $1,789,000 after buying an additional 1,800 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Elevance Health by 4.5% during the third quarter. Principal Financial Group Inc. now owns 272,649 shares of the company's stock worth $141,777,000 after buying an additional 11,646 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Up 0.5 %

Elevance Health stock traded up $1.96 during midday trading on Wednesday, hitting $382.71. 1,517,609 shares of the stock were exchanged, compared to its average volume of 1,417,422. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The business's 50-day moving average price is $393.06 and its 200-day moving average price is $474.59. The stock has a market capitalization of $88.76 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $8.99 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, December 5th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Thursday, December 5th. Elevance Health's dividend payout ratio (DPR) is currently 23.77%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald cut their target price on Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Wells Fargo & Company cut their price target on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, TD Cowen lowered their price objective on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has assigned 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 target price of $536.53.

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.