Meriwether Wealth & Planning LLC Buys Shares of 1,604 Elevance Health, Inc. (NYSE:ELV)

Meriwether Wealth & Planning LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,604 shares of the company's stock, valued at approximately $592,000.

Several other hedge funds have also made changes to their positions in the business. Stifel Financial Corp lifted its holdings in Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock valued at $370,794,000 after acquiring an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock worth $1,246,574,000 after acquiring an additional 334,552 shares during the period. Wellington Management Group LLP increased its stake in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Elevance Health in the third quarter worth approximately $129,221,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Elevance Health in the 4th quarter valued at $88,882,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

ELV traded down $8.97 on Wednesday, hitting $413.07. 622,347 shares of the company's stock were exchanged, compared to its average volume of 1,628,018. 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 stock has a fifty day moving average of $392.54 and a two-hundred day moving average of $431.56. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The firm has a market cap of $93.91 billion, a PE ratio of 16.12, a P/E/G ratio of 1.18 and a beta of 0.86.

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Elevance Health (NYSE:ELV - Get Free Report) last posted its 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, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.66%. Elevance Health's dividend payout ratio (DPR) is 26.71%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm's 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 sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research reports. Argus reissued a "hold" rating and issued a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Truist Financial decreased their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Finally, Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target of $517.03.

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.